Equipment Lease and Finance Group
JMBM has deep expertise in equipment lease and financing transactions, representing domestic and international banks, financial institutions, equipment lessors, lessees, private equity firms, equipment managers, investors, arrangers, and other intermediaries in a range of transactions.What We Do
On behalf of our clients, JMBM's Equipment Lease and Finance lawyers handle transactions that include true leases and capital leases, syndications of equipment leases, remarketing transactions, equipment management transactions, sales and purchases of equipment lease portfolios, leveraged leases, vendor financing, and financing facilities to equipment leasing companies. We have also negotiated and structured joint ventures involving debt and equity providers for equipment financing transactions, and negotiated and documented the early termination of leveraged leases.Representative Asset Types
Our lawyers have experience with many asset types, including manufacturing and industrial equipment, agricultural equipment, equipment used at power plant facilities, intermodal shipping containers, transport category aircraft, chassis, railcars, and other transportation equipment across a range of industries including technology, transportation, and healthcare.International Transactions
We have particular expertise in international transactions; we frequently represent clients in cross-border transactions, are familiar with commercial and tax issues relating to the location of collateral in multiple jurisdictions, and have advised clients with respect to Sharia-compliant structures.Successes
- Represented a UK bank in the acquisition of various equipment portfolios in the U.S.
- Represented a Fortune 50 financial institution in syndicating equipment leasing transactions to foreign banks.
- Represented a European multinational in tax, bankruptcy, and corporate matters relating to a refinancing of equipment at various plants in the U.S.
- Represented a financial institution in various equipment leasing transactions between $10 million and $25 million for office, medical, and industrial equipment.
- Represented a lessee in negotiating a lease for a national fleet of vehicles.
- Represented a private equity fund in the acquisition of a portfolio of intermodal shipping containers and structured the management arrangements for the assets.
- Represented a public company in the termination of leveraged leases, equipment sale leaseback transactions, and various other financings of transportation equipment.
- Represented a leading private equity fund in a chassis transportation lease financing.
- Represented a leading leasing company in $60 million and $30 million equipment lease and financing transactions.
- Represented a leasing company in a $15 million secured lending and intermodal container equipment leasing transaction.
- Represented a foreign bank in a residual value guarantee secured financing transaction.
- Advised a leading equipment lessor on sales and use tax issues relating to securitization.
Our structuring and documenting of equipment leasing and finance transactions at the front end is complemented by our national reputation in workouts, recoveries, restructurings, and bankruptcy for lenders, lessors, and other financial institutions. In our experience, out-of-court agreements often best serve lessors and creditors to avoid costly and time-consuming litigation, and we have frequently negotiated Restructuring Agreements, Forbearance Agreements, and other amendments to the operative leasing and credit agreements. We have also handled complex workouts, assignments for the benefit of creditors, and receiverships. JMBM lawyers have worked with Chief Credit Officers and Special Asset Departments from most major banks and regional banks. Where consensual restructurings are not the optimal approach, we have represented many clients in equipment recoveries for various asset types, foreclosing on collateral, including Uniform Commercial Code (UCC) Article 9 sales and in complex Chapter 11 cases, where we are well known to the bankruptcy courts.Our Business-Centric Experience
JMBM is distinguished by carefully focusing on issues of importance to our clients in equipment leasing and finance transactions, and bringing a deep level of business experience and understanding to transactions. Our equipment finance team includes in-house Fortune 50 experience, with one of our attorneys having served for a number of years as General Counsel of an international equipment finance business, where he oversaw hundreds of millions of dollars of equipment finance transactions and syndications. Another JMBM attorney served as in-house counsel at a national bank, and one was a general counsel resident in Saudi Arabia to a company managing hospitals for the Saudi military. As such, we are able to appreciate transactional matters of importance to in-house counsel and business executives, provide practical and innovative solutions, and understand the business mechanics driving transactions.
Our attorneys have participated in activities at the Equipment Leasing and Finance Association (ELFA), the major industry group in the US, and have served on the ELFA legal committee, which tracks and presents legal and legislative developments of importance to equipment lessors, and presented at ELFA meetings. We frequently publish articles relating to equipment leasing, including recently Successful Partnering Between Inside and Outside Counsel, Chapter 76, Commercial Equipment Leasing (Thomson Reuters/West 2013) (with co-authors).