Equipment Finance Group

The attorneys in the Vedder Price Equipment Finance Group represent lessees, lessors, financiers and related parties, both domestic and international, in a broad range of equipment finance transactions, including those involving aircraft, railcars, locomotives, vessels, computers, medical equipment, industrial production equipment, satellites, cars and trucks. The attorneys in the Equipment Finance Group have extensive experience in structuring and negotiating:

• leveraged leases (both on- and off-balance sheet)
• operating leases
• mortgage financings
• cross-border and municipal leases
• export finance leases
• subleases
• conditional sales
• sale/leasebacks
• securitizations (including equipment trust and pass-through certificates)
• multiple-layered debt financings
• manufacturer-supported financings
• government-supported financings

Clients benefit from involving Equipment Finance Group attorneys during the initial stages of a transaction. Vedder Price attorneys assist their clients with developing the structure of a transaction and counsel clients on term sheet negotiations. During the course of a transaction, Vedder Price attorneys serve their clients by taking an anticipatory and problem-solving approach to issues that may arise. Utilizing a dedicated team of experienced legal assistants, Vedder Price attorneys work to ensure smooth and successful closings for their clients.

Vedder Price Equipment Finance Group attorneys are recognized leaders in the equipment finance field, regularly speaking at industry seminars and authoring articles published in treatises and trade journals. Their prominence in the area has enabled Vedder Price attorneys to develop valuable relationships with those in the industry. In 2000, 2001 and 2002, Euromoney Publications ranked Vedder Price as one of the top aviation law firms in the world based upon the number of Vedder Price attorneys included in its Guide to World’s Leading Aviation Lawyers. In 2003, Aircraft Economics ranked Vedder Price the second best aviation finance firm worldwide (tied with three other firms).

Equipment Finance Group Practice Areas

Structured Financings

Attorneys in the Equipment Finance Group are experienced in a wide variety of structured financings, including representation of debt, equity and lessees in cross-border and municipal lease financings, leveraged lease financings, representation of manufacturers and lessees in manufacturer-supported financings and representation of liquidity providers in credit-enhanced securities offerings. Vedder Price has served as issuer’s and underwriter’s counsel in equipment-related underwritten debt offerings, including securitizations using equipment trust certificates and pass-through trust certificates. Attorneys from the firm’s securities group work closely with attorneys from the Equipment Finance Group to develop innovative structures to address current market demands while ensuring appropriate legal treatment under ERISA and federal tax and bankruptcy codes.

Government-Supported Financings

The Equipment Finance Group attorneys have considerable experience in connection with export credit financing of aircraft involving the Export-Import Bank of the United States ("Exim"). Vedder Price has acted as counsel for Exim on a wide variety of aircraft financings involving aircraft exported to airlines in China, India, Korea, Algeria, Russia, Azerbaijan, Malaysia, Greece, Italy and Australia. Vedder Price has also represented lenders involved in Exim financings. Exim transactions have utilized many innovative financing structures, including those consisting of finance leases, tax-motivated leveraged leases, mortgages and joint Exim/ECGD structures. Lessees/mortgagees have included leasing companies in addition to airlines. The debt portions of these financings have been provided through permanent private debt placements to banks and other institutional investors as well as public offerings in the form of securitizations.

The Equipment Finance Group has also represented the Export Development Corporation of Canada in a variety of government-supported financings involving both aircraft and railcars.

Transportation and Intermodal Equipment

Attorneys in the Equipment Finance Group have substantial experience in the leasing and financing of transportation and intermodal equipment, including maritime assets of every description, engaged in both domestic and inland as well as international transportation, offshore construction and oil exploration, containers, chassis, barges, rail-mounted terminal cranes, terminal facilities, bridge training simulators and even tourist submarines and ferries. They have represented lessors and lessees in leasing transactions of varying size, type and complexity, including sale and leaseback transactions, finance and leveraged leases, cross border and FSC leases, and operating leases. They have experience with ship registration, dual registry and mortgage recordation laws of the various open registry jurisdictions. The attorneys also have extensive and ongoing experience in the leasing and financing of locomotives and railcars. Services currently provided to clients are nationwide and international.

Operating Leases

Attorneys in the Equipment Finance Group have structured operating leases with lessees from all over the world. Vedder Price attorneys have handled delivery and return processes and are well versed in registration and perfection issues in numerous jurisdictions. Due to its global practice, Vedder Price has developed an extensive network of law firms able to serve as local counsel. This worldwide experience enables Vedder Price attorneys to ensure that their clients’ interests are protected to the fullest extent possible under the applicable governmental system.

Tax

Tax issues are of paramount importance in equipment finance transactions, and the tax lawyers in the Equipment Finance Group are skilled in designing and structuring financings to achieve the goals of all parties to a transaction. Such experience includes foreign sales corporation (ownership and commission), ETI and cross-border structures in which the importance of tax expertise is critical.

Show all attorneys in this practice

• Aircraft Finance
• Aviation & Aerospace Regulatory
• Business Aviation Services
• Cross-Border & Municipal Transactions
• Maritime Finance
• Operating Leases
• Project and Infrastructure Development and Finance
• Railcar Finance
• Taxation

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• Equipment & Structured Finance