Journal of Equipment Lease Financing - Spring 2019



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Transitioning from LIBOR to a Replacement Rate Index: What Steps Should Lenders Take Now?
By Andrew Kalgreen
 
Lenders and borrowers alike are wondering when and how they will adapt to a market in which LIBOR is no longer the preferred interest rate benchmark, a development likely to occur at year-end 2021. Clearly lenders must consider the many effects of replacing LIBOR with another floating rate index. This article discusses the steps lenders should take now, and why.
 
Financing Robotics:  Scoping the Opportunity
By Paul Bent, Shawn Halladay and Andrew G. Mesches
 
Will the growth of robotics increase financing volume? The jury is out, but niche players with asset management skills will likely discover opportunities. As this article points out, most risks are no different from those faced in any technology-driven asset class: managing residual risk and associated soft costs in a fluid environment.
 
Analyzing U.S. Cannabis Laws and Their Impact on Financial Services
By Gregory D. Omer
 
As state cannabis laws become more commonplace, indirect connections to cannabis-related businesses are increasingly harder to avoid. Significant legal risk surrounds deposit services, loans, and commercial finance leases. Here is an overview of the complicated web of state and federal cannabis statutes, rules, and government policies.
 
A Valentine's Day Massacre of Liquidated Damages: In re Republic Airways Holdings Inc.
By Arlene N. Gelman and Edward K. Gross
 
A bankruptcy court ruling in New York this year could be problematic for lessors when enforcing certain typical acceleration and collection remedies against defaulting customers. Specifically, In re Republic Airways Holdings Inc. may impair the reliability of SLV-based liquidated damages provisions even in hell-or-high-water leases and guaranties of those obligations under unconditional and absolute guaranties. The authors will explain why they believe that the court erred, and discuss the enforcement and transactional implications to lessors.

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