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PG&E Bankruptcy and Equipment Lessors

By: Peter C. Califano, LEAN Attorney

On Tuesday, January 29th, 2019, PG&E’s parent and operating company each filed a Chapter 11 bankruptcy case in San Francisco. The cases are being jointly administered with the lead case as Case No. 19-30088 (PG&E Corporation). The Debtors explained that the main reason for the bankruptcy filing was due to the mounting claims from the […]

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Equipment Leasing and Finance Industry Confidence Rises in February 2019

By: Reprinted courtesy of Equipment Finance Advisor

If you didn’t see this is yesterday’s Equipment Finance Advisor we thought you may enjoy some good news before the President’s Day weekend. This has echoed the bullish sentiment been hearing from our partner firms. We are pulling for the positive trend to continue! The Equipment Leasing & Finance Foundation released the February 2019 Monthly […]

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Syracuse LEAN Firm Barclay Damon Combines With Commercial Bankruptcy Leader Menter, Rudin & Trivelpiece

By: LEAN Staff

Barclay Damon LLP recently announced its combination with Menter, Rudin & Trivelpiece, P.C., a firm widely known for its longstanding leadership in commercial bankruptcy cases. Effective August 1, 2018, the 14 attorneys of the Syracuse-based Menter firm and its paralegals and staff joined Barclay Damon, which will continue to be the name of the combined […]

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Good News for Equipment Lessors – Priority for Idle Equipment!

By: Peter C. Califano, Esq.

  GOOD NEWS FOR EQUIPMENT LESSORS – PRIORITY FOR IDLE EQUIPMENT In March 2018, the United States District Court for the Western District of Louisiana[1] affirmed a Bankruptcy Court’s order allowing an administrative expense claim for leased equipment that sat idle and unused for the initial 60-day period after the debtor-lessee filed a Chapter 11 […]

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Dealing with Liquidated Damages In and Out of Bankruptcy

By: Robert S. Bernstein, Managing Partner, Bernstein-Burkley, P.C. [1]

  Dealing with Liquidated Damages In and Out of Bankruptcy When utilized in contracts and leases, a liquidated damages clause can serve as a tool to avoid unnecessary litigation. In situations where a party has breached the terms of a lease, the parties can include a liquidated damages clause in order to determine the amount […]

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Forebearance Agreement Drafting Tips

By: Jay L. Welford - LEAN Attorney at Jaffe, Raitt, Heuer & Weiss, P.C.

Before a lender/lessor engages in a negotiation with its borrower/lessee regarding a proposed or requested forbearance arrangement, it is recommended that the following topics be used as a checklist for the negotiation process and for inclusion in the forbearance agreement itself. Skilled counsel can customize these concepts to maximize the leverage of the lender/lessor and […]

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Lessors Beware of the Enforceability of Stipulated Loss Value Tables

By: LEAN Attorneys Frank Peretore, Robert L. Hornby & Ryan O’Connor - Chiesa Shahinian & Giantomasi PC

A recent ruling by a judge in the influential Bankruptcy Court for the District of Delaware may indicate that Stipulated Loss Value tables are more at risk than is commonly believed in the industry. The opinion arose in a Chapter 11 bankruptcy case filed by Tidewater Inc. and its affiliated debtors (the “Tidewater Debtors”), entities […]

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LEAN Lawyer Peter Califano Helps Lead National Effort to Amend the Bankruptcy Code.

By: LEAN Staff

Bankruptcy Venue Reform Bill Introduced in Congress On January 8, 2018, Senators John Cornyn (R-TX) and Elizabeth Warren (D-MA) introduced a bill (S. 2282) that would rebalance how Chapter 11 bankruptcy cases are distributed throughout the country, by eliminating the state of incorporation for commencing a bankruptcy case, and instead, require corporate debtors to file […]

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Bankruptcy Attorneys: Good for More Than Just Bankruptcy

By: Allison Carr, Associate - Bernstein-Burkley, PC

When people hear that an attorney specializes in bankruptcy, they often want to run in the opposite direction. Some people say that being a bankruptcy attorney sounds interesting, but they hope they will never need to employ one. “Bankruptcy,” however, encompasses so much more than just representing debtors who have filed for chapter 7, 11, […]

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News from the ELFA Legal Forum

By: Bob Bernstein

My Partner Kirk Burkley and I attended the ELFA Legal Forum at the Don Cesar in St. Petersburg Beach this past Sunday-Tuesday.  It was very well attended and many LEAN members were there.  There were over 150 inside lawyers in attendance, along with another 100 outside counsel.  Not only was there great networking (especially the […]

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