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Leasing Cases by Tom McCurnin

My Opinions on Major License Changes
for Lease Financing in the State of California
California Court of Appeal Clarifies Lender’s Right
to Assign Loans to Non-Licensed Lenders

Tips for employers hiring competitor's employees  
California’s SB 197 Finally Will Allow Lenders to Pay Some Unlicensed Brokers  
Wells Fargo Bank Suit Against Broker Prevails  

Possession or Sue for Damages, Which Comes First?
Feds Allow to Seize Collateral, Then Sue for Damages


Secured Creditor Not Allow to Repossess
Patient Files of Medical Provider

Key Finance Escapes Lender Liability Claim
Court Rules Parties Allowed to Stipulate How
Commercially Reasonable Sale Should Take Place

Refundable Deposit for Auction
Makes it a Private Sale, Disqualifies Sale of Asset
FDIC as Receiver for Bank Forged Lease
Granted Blanket Bond Coverage
Market Study Defense Did Not Help Doctors'
 Claim of Lessor's Alleged Fraud
Iowa Court Allows Lessor to Make Successor
Liability Claim Against Lessee’s Successor
Lessor Who Was Servicing Lease Held
Liable for Commingling Lease Payments

California Allows Oral Modification of Acceptance of
Equipment in Landmark Julius Castle Restaurant

Defective Copier Lease Modification, Leaves Lessor without Recourse
The Consequences of a Creditor Filing a Bad Involuntary Bankruptcy
Case Credit Gets Thrown in the Ditch by Kentucky Court  
California Law Now in Effect Broadens Exemption
But More Stringent Provisions as to Licensees

State of California Proposes to Eliminate Exemption
Enjoyed by Bank Subsidiaries for Lender Licensing

Pro-Rata Guaranties of Lease Reach Fair Decision Settlement
Leasing Companies and Individuals May Sue Internet Posting for Libel
Capital One Credit Card Agreement Allows it
to Personally Visit Borrower’s Home or Employment!
True Story, I’m in Murphys, California  
Lease One Tagged for Fraud in Lease Commitment  
Second Circuit Sinks JP Morgan Chase $1.5 Billion
Over Mistaken Termination of UCC
8th Circuit Sides with Bank on Wire Transfer
Cyber-Crime Against Escrow Company
Seventh Circuit Rescues Wells Fargo Leasing
Another Municipal Copier Lease Gets Botched by Lessor  
Brican America Court Case Preface  
$8 Million in Attorney Fees Brican America Six Year Court Case  
Federal Reserve Indicates Desire to Implement
International ACH Payment System
Fed Reserve Now Making Banks Lean on Accountants,
Brokers, Lessors, Law Firms to Provide Security & Cyber Plans
Golf Channel Advertising Was Fraudulent Conveyance/
Ruling May Affect Banks/Lessors in EAR Case & Others
Banks Win, Pay Day Class Action Suit Loses,
No Right of Receiving Bank to Refuse an ACH

Perfecting a Security Interest in Lease Contracts
When Originals Are Imaged Then Destroyed
Escrow Company Loses to Bank on Wire Transfer Cyber-Crime  
Equipment Finance Lender Stung for $1 Million Dollars
For Inappropriate Collection Activities

US Banks Are Giving Guidance on Doing
Business with Marijuana Dispensaries
True Leases and Agricultural Livestock Leasing
“What is the Economic Life of a Cow?”

Marlin Leasing Shutout from Suing Vendor
in New Jersey Over Fraudulent Leases
How Brokers, Discounters, Lessors Can Comply
with the Patriot Act

Warren Capital Receiver and Law Firm Join The Gravy Train
Credit Bidding at Foreclosure Sales: Three Courts,
Three Decisions, Three Results

Leasing Brokers: When May You Collect a Commission?
Ninth Circuit Allows Bank to Freeze Chapter 7 Account
 ---But New York Court Sanctions Bank for Same Conduct
Equipment Lessor and Counsel Get Sanctioned for
Violating the Automatic Stay after Lease is Rejected

Update--Balboa Files: "It was an Operating Lease"
Bank May Respond to an Out of State Levy and Turn Over Assets Not Necessarily in State Where Levy Occurred
Must Prepayment Penalty Involve Actual Payment as Opposed to Acceleration of Obligation?  
Balboa Capital Improper ACH Debits
Lands Them in Oklahoma Court
“Today’s Destiny” Leasing Fraud Ends Quietly  
Arizona Court Lets Dishonest Koss CFO’s Fraud
Sue American Express for Conversation
Notice of Default Resolved in Favor of Lender  
Manufacturers Vendor Support Agreement
Takes a Wrong Turn But Ends Up in Favor of Lessor

Can Lessors Rely on Electronic Signatures?  
MBF Leasing Prevails in Litigation over Forum Selection Clause  
Brican Assignee Wins Battle Over Floating Forum
Selection Clause in New Jersey
Balboa Capital Sued in Federal Court for Bait and Switch Sales Tactics
Leasing to Franchises
Classic Tom McCurnin on “Origin of Suretyship Defenses”
Robin Hood, The Evil Prince John, The Knights Templar,
 and the Magna Carta

Lessors Chastised by District Court In E.A.R. Case For Waiting
Three Years To Contest Jurisdiction
—Case Now At Issue With Answers Filed By Lessors
What is Leasing?
Legal Definitions by Leasing News Legal Editor Tom McCurnin

Captive Leasing Company Given a Big Break
by New York District Court
Handling Post Judgment Interest in a Lease  
What a Commercially Reasonable Sale Is
Regarding a Sale of Repossessed Equipment

New Mexico Bankruptcy Court Gives Lessor an
Administrative Claim for Lease Construction Equipment
Ollie the Golden Retriever Solves Murder Case  
Lessor Found Liable for Embezzlement in North Carolina Bankruptcy Court  
Illinois Voids Loan Because Lender Was Unlicensed  
Court Gives First Data Merchant Services a Pass in Class Action Suit
Sometimes Lawyers Give Themselves a Bad Name
Bank Refused Coverage on Banker’s Bond
for Sheldon Player’s Equipment Acquisition Resources
Are Accurint Reports a Consumer Credit Report?
Will This Change Their Use?
Case Gives New Meaning to a Businessman Getting
Screwed by the IRS

Lawsuit Over ACH Loan Payments Ruled Illegal, Now Headed for Trial  
Guarantor Loses Claim re: Lessor Overpayment
to Vendor for $100,000 Kickback to Lessee
Late Fees  
Broker’s Responsibility to Obtain California Lender’s License  
Debtor’s Use of Proceeds from Going Out of Business Sale to Pay Owner’s Wages Was Conversion and Resulted in Judgment Against Owner
This Case May Chill Assignments
Notes on Purchase Money Security Interests  
Secured Lender Loses Security Interest in Two Cranes
Which Are Sold Under its Nose
Iowa Court Upholds the Use of Dragnet Clause
Fed’s Operation Choke Point Goes After Pay Day Lenders and Other “Undesirable Customers”
Lessor Busted for Use of Floating Forum Selection Clause
Michigan Court Upholds Subordination to
Hard Money Equipment Lessor
Secured Creditor’s Use of Blanket Security Interest in Loan Agreement Pays Off in a Chapter 13 Claim Dispute
Court Rules that Slight Error of Debtor’s Name in UCC-1 Financing Statement Results in Creditor Having Unsecured Loan
Kentucky Court Strikes Lessor’s Guaranty
Debtor Can’t Terminate Security Interest of Lender
Court Holds that Indian Tribe May Conduct Business
as Pay Day Lender in California Without Securing Lender’s License
Lessor’s Confusion Perfecting Security Interest in
Motor Vehicle Results in Lessor Being Deemed Unsecured

Court Holds that Indian Tribe May Conduct Business as Pay Day Lender in California Without Securing Lender’s License
HSMC Sanctioned for Destroying Evidence of
Recorded Phone Calls in Privacy Action

Stress Tests for Mid-Sized Banks to be Relaxed  
Colonial Pacific Leasing Loses Summary Judgment
on Commercially Reasonableness of Sale of Leasing Equipment
Northern Leasing Brings up $2 Million Bond re:
Ascentium New York Court of Appeals Case
Northern Leasing Found to Have Diverted
Proceeds from Lease Servicing Pool
Drafting Leases for Commercially Reasonable
Disposition of Collateral
Sixth Circuit Affirms GE Capital’s Deficiency on Leased Trailers with Broad Form Guaranty  
Iowa Federal Court Rules Hurricane Sandy Does Not Excuse Lessee’s Obligations Under a GE Capital Copier Lease  
Dunning Letter on Time Barred Debt
is Actionable under FDCPA

Securitization Viable Procedure for Raising Capital
for Brokers and Other Leasing Companies
Another Creditor Gets Snagged by Failing to Return
Repossessed Collateral after the filing of Bankruptcy
California Court Strikes Down Default Provision for Single Late Payment  
Interim Rent: Proper Accounting Function for Short Term Advances --- Or Is It a Scam?  
New York Court Holds SLV Damage Provisions
in Lease to be Unconscionable
Usury and Choice of Law Provisions in Leases  
Borrower Tags Mortgage Service for Violation
of Soldiers and Sailors Relief Act
Four Oaks Bank Tagged by Regulators for Lack of Supervision Over Third Party ACH Processors  
Two Foreclosure Cases---
How Secured Credits Should Comply
Drafting Leases for Commercial Reasonable Disposition of Collateral  
Federal Express Tagged for Illegally Terminating Equipment Lease and Matter Is Subject to Class Certification  
Finally HL Leasing Scandal Coming to an End
And Investors May Get Money Back!
California Case Demonstrates Perils of Leasing
Restaurant Equipment to Franchisee
E.A.R. Case Takes Wrong Turn for Equipment Lessors  
Counterfeit Cashier’s Checks  
Involuntary Bankruptcies for Dummies  
US Bank/Lyon Financial Get Tripped up by Botched Confession of Judgment and Involuntary BK Filings Against Guarantor  
New York Courts Adopt California Pre-Litigation
Disclosure Requirement for Trade Secret Litigation
Balboa Capital Gets Tagged
For Alleged Dummy Docs
To Get Even, Securities Lawyer and Wife Plant Drugs
  in School Volunteer’s Car, But Face Trial Instead
De Lage Landen/Element Financial Settle Dispute
  --Original story by Tom McCurnin, Leasing News Legal Editor
Leasing Brokers: When May You Collect a Commission?  
California Federal Court throws Monkey Wrench
Into 5% Late Payment Fee Provision
Repossessing Vehicles: Three Cases
---Three Different Results
Texas Court Puts Road Block in Way of Servicer
Suing on Behalf of Creditor
Wells Fargo Equipment Finance Gets Derailed in Train Lease Litigation  
Short Sighted Equipment Lessors Which Repossess Prior to Bankruptcy Filing But Do Not Return Vehicle Tagged for Damages  
U.S. Bank Equipment Finance Awarded Tort Damages in Case Where Equipment Move to Mexico  
Letter of Credit’s Interpretation Limited to
Face of the Letter of Credit
Another Equipment Lessor Gets Sued
for Stealing Trade Secrets
DVI Fallout Continues Where Suit Against
Accountants is thrown Out
Balboa Tagged for Stealing Corporate Secrets  
Does Your Company Have a Policy for
B.Y.O.D. Cell Phone Use
Several States Fail to Meet July 1, 2013 Deadline
for Enacting Amended UCC Article Nine
California Case Provides New Remedies in Injunction
re: Fair Credit Reporting Act
Scrivener’s* Error Results in $950,000 Error for Bank
(*Someone employed to make written copies of documents)
Banks Scramble to Shed Servicing Duties as a
Result Basel III Accords--- Will Affect Leasing?

Caterpillar’s Junior Lien Prevails Over Senior Lien of Bank Because Senior Bank Doesn’t Obtain Security Agreement  
Wildwood Industries Fraud Snares Lessor and Lender
in Battle Over Assignment
Marlin Leasing Has Forum Selection Clause Upheld
and Recovers its Attorney Fees
Letter of Credit’s Interpretation Limited to
Face of the Letter of Credit
Huntington Bank Hit with $81 Million Judgment
Check Kite Crashes into El Camino Resources
E-Discovery Catches Up with Mobile Devices  
States Move to Using Driver’s Licenses for the
Official Name for Secured Transactions
Non-Competition Clause in Employment Contract
Invalidated by Georgia court
Copier Leases Got a Little Harder in California
Cannon Business System Loses Appeal
Iowa Equipment Lessor Gets Revenge on Lessees Who Converted Video Equipment  
Bank Tagged for Inaccurate Notice of Sale  
More Copier Woes
Coactive Capital Partners
California Case Demonstrates
Perils of Leasing Franchise Restaurant Equipment
California Bankruptcy Court Throws Out Adversary Action Against Balboa Capital and Bank of America Leasing for Fraudulent Conveyance  
Equipment Lessor Let Off the Hook by Use
of a Condensed Statute of Limitations Clause

Photocopier Leases: Washington Court
Ignores "Integration Clause" in Lease
Dodd Frank Wall Street Reform Act
And Its Effect of Leasing
Broker’s Responsibility to Obtain
California Lender’s License
No Jurisdiction over Non Creditors in
Fraudulent Conveyance Claims

Iowa Court Rules that Woman May be Fired for Being Too attractive  
California Regulators Going After Debt Collectors
for Perceived Collection Abuses
Leasing Company for P.O.S. Machines
--- Escapes Two Class Actions
New York Bankruptcy Court Allows Tort Liability
   to be Alleged in 363 Sale
Florida Federal Court Rules Two Year Delay in
  Selling Collateral Was Not Unreasonable
Ten Percent Late Fees  
Bank Which Botched Pre-Payment to Manufacturer Denied Secured Status  
Taking Licenses for Software, Website names, Products, et. al. Is It Good Collateral? The Court Answers: “Yes!”  
Iowa Court Rules “Agency” and “Fraud” Question of Fact While Upholding “Hell or High Water” Clause  
JP Morgan Chase Lose on release of lien case  
Sheldon Player's Equipment Acquisition Resources
Ropes 18 Equipment Lessors in Alleged Fraud

Collection Agency’s Robo-Phone Calls to Customers Cell Phone Snares Agency in Class Action Suit  
Kentucky Court Finds Secret Government Lien for Lease Displaces Junior Creditor's Perfect Lien
Court Stings Financial Pacific Leasing on Failure to
Properly Obtain “Acceptance” of the Leased Equipment
Fraudulent Wire Transfer Schemes Continue to Plague Business and Financial Institutions  
Indiana Court Ruling Makes True Lease “Murky”  
Secured Creditor's Election—“Over” or “Under Secured”  
Wells Fargo Equip. Finance Stripped of Its Perfected Lien  
Why Sue in Federal Court?  
Solar Financing Company Objects to View of Industry by McCurnin  
Clean Energy Lease Gets $32 Million Dirty  
Equipment Lessor Prevails in Buyer in an Ordinary
Course of Business Case in Inventory Dispute
Funding Source Gets Burned by Inadequate Collateral
Fraudulent Wire Transfer Schemes
Continue to Plague Business and Financial Institution
Creditor Prevails in State Court
Fraudulent Conveyance Action
Buyer of Construction Equipment Held Liable for Damages  
ACH Is Not a Cash or a Cashier's Check  
Conveyance to Family Trust Held to be Fraudulent Conveyance  
Secured Creditor Back-Dates Foreclosure Sale Documents  
Over Foster Caregiver to Compel Spaying Dog  
Lender Gets Snared by Default Interest Provision
in Poorly Draft Control Without a Lender's License
Every Asset Based Lender’s Nightmare!  
How Important is the Legal Name on the UCC?  
Louisiana District Court Rules that Successive UCC’s for New Loans Are Unnecessary  
Banks Gets Expensive Revenge  
What did Tetra and Republic Bank Have in Mind?
Green Fees Held Not Be Collateral of Bank's Real Estate Loan  
Kibosh on Common Fund Class Action Settlements  
Mazuma and Republic Bank Get Snared on PRR Provision  
Secured Creditor Loses to Junior Creditor Bank of the West  
Speedy Repossession/Resale Cost Bank $1 Million Deficiency  
Lessor Gets Revenge on First Payment Default Lessee
Lessor of POS machines Snared in Class Action Suit  
Lessor Prevails Against Chutzpa Defense
of Bank Approval of False Financial Statement
Sheldon Player/Equipment Aquisition Resources
Typo in Lease Spawns Major Litigation
Debt Collector sends Collection Letter to
Debtor’s Employment, Creates Class Action Suit
Are You Unknowingly Financing Inventory?  
Lessor Escapes NY Evergreen Clause Class Action  
Are Telephonic Guaranties Enforceable?  
Massachusetts Court Upholds DLL’s Forum Selection Clause  
Lessor Escapes NY Evergreen Clause Class Action  
Confusing Notices and Change of Plans
May Bar Recovery for Equipment Lessors
Watch Out for Small Capital Leases
-Especially Without a License
Late Fees  
Secured Creditor of Payroll Processing Firm Held Valid Lien on Bank Accounts of Payroll Processor  
Forged Corporate Resolution Stings Creditor  
Fallout from CMC Continues in Nevada Federal Court  
Equipment Lessor Gets Stung in Assignment Trap  
Equipment Lessor Saved by Exculpatory Language  
The Problem with Accepting Late Payments  
New Jersey Bankruptcy Court Slams Lender for Usury
by Thomas E. McCurnin & Frank Peretore
Royal Links Appeal Rules Back to Trial  
CMC paper and Officers Back to Litigation  
Late Fees