1782 Discovery Blog: International Divorce Finding Hidden Assets Of The Suddenly Asset Poor Billionaire

International high net worth and celebrity divorces often involve disputes over location and control of real property, art, company ownership and investment/bank accounts.  The U.S. offers a very powerful tool for participants in foreign divorce proceedings to...

1782 Discovery Blog: U.S. Courts Remain Spilt On Allowing 28 U.S.C. §1782 Discovery For Private International Arbitration

The U.S. allows parties to non-U.S. litigation proceedings to obtain documents and witness testimony from sources within the U.S., even if such evidence is unobtainable through the home forum’s own discovery procedures.  Types of evidence available include...

Bruce Marks gives interview on channel Russia-24 on the upcoming elections

October 27, 2020 Voice of America. Bruce Marks comments on the upcoming elections. A slim majority of Americans, 52%, approve of the way Trump is handling the economy. The economy has typically been Trump's strongest issue. Presidential approval has been a strong...

UNLOCKING FINANCIAL INFORMATION IN THE UNITED STATES: OBTAINING DISCOVERY FOR USE IN FOREIGN PROCEEDINGS

The US offers a very powerful litigation tool to parties to foreign legal proceedings to obtain bank records, other documents and witness testimony from sources within the US, even if such evidence is unobtainable through the foreign forum’s own discovery procedures....

Bruce Marks doesn’t preclude the possibility of a future proceedings following the presidential elections – RUSSIAN RT

October 28, 2020 Bruce Marks, former republican Pennsylvania State Senator, gives interview on Prekrasnaya Rossiya - RUSSIAN RT- on Unfair elections and ballot-stuffing. Pennsylvania is the state where Trump won in 2016. Bruce Marks has the reason to believe that the...

A GUIDE TO ITALIAN LAWYERS FOR OBTAINING DOCUMENTS AND TESTAMONIAL EVIDENCE IN THE U.S.FOR USE IN ITALIAN LITIGATION

The U.S. offers a very powerful litigation tool for participants in Italian legal proceedings and arbitrations to obtain bank records, documents and witness testimony from sources within the U.S., even if such evidence is unobtainable through Italian court...

Bruce Marks gives interview on channel – Russia 24

October 19, 2020 The founder and managing member of Marks & Sokolov, LLC, attorney Bruce Marks gave an interview to Russia 24 on the upcoming elections. He believes that the relations between Russia and the United States could get worse. Watch the interview

Bruce Marks comments on recently declassified documents established that Obama’s administration was engaged in developing a “Russia hoax” to attack Trump -RIA News

October 9, 2020 President Trump’s Director of National Intelligence John Ratcliffe recently declassified documents, including notes of former Obama CIA director John Brennan, that revealed the CIA had obtained intelligence by September 2016 that then presidential...

1782 Discovery: Marks&Sokolov Enforces Protective Order Against BuzzFeed

28 U.S.C. §1782 allows participants in international legal proceedings to obtain bank records, documents and witness testimony from sources within the U.S., even if such evidence is unobtainable through the international forum’s court procedures.  This procedure...

1782 Discovery Blog: Marks & Sokolov Enforces Protective Orders In International Discovery

The U.S. offers a very powerful litigation tool for participants in international legal proceedings to obtain bank records, documents and witness testimony from sources within the U.S., even if such evidence is unobtainable through the home forum’s court...

Proposed Principles for the Sale of Repossessed Business Aircraft

by | Sep 2, 2020 | Blog

September 1, 2020

It is in the best interests of banks engaged in aircraft finance, aircraft lessors, aircraft brokers, and aircraft owners to standardize and make transparent the process to resell repossessed business aircraft. Adherence to best practices in this process would remove risks and costs for banks and other creditors, generate business for reputable aircraft brokers and appraisers, and would be fair to aircraft owners.

The process to resell repossessed aircraft should be governed by a set of principles that should be incorporated in aircraft finance and security agreements (the “Principles”). The Principles set out below would satisfy the requirements for a commercially reasonable sale of a repossessed aircraft, within the meaning of Article 9 of the Uniform Commercial Code (the “UCC”). Each party to a transaction would be treated fairly, and the risks and costs for creditors highlighted by the cases discussed below may be avoided.

Presently, banks, aircraft finance companies, and aircraft lessors (collectively, “Banks”) generally each have their own standard terms and conditions for loan agreements, aircraft security agreements, and guaranty agreements. These terms and conditions vary from Bank to Bank and do not protect Banks from becoming engaged in disputes and litigation.

Existing standard terms and conditions typically provide that, following an event of default, a Bank has unlimited discretion in selling a repossessed aircraft. The Bank may sell the aircraft to any party it chooses and at any price it chooses. Not surprisingly, this discretion is sometimes abused, as illustrated in the cases discussed below, and in other cases known to the authors. Disputes typically involve the sale of an aircraft by a Bank at a price less than the aircraft’s then current fair market value.

Read FULL ARTICLE