Equitable Law has recently been engaged in the purchase (for a Nevada based finance corporation – of a British crane hire business) – the owner of some of the largest mobile cranes in the world.
Our client’s original plan was to export the industrial equipment (indirectly purchased in the transaction) to China – but that country appears to now have a rather serious Covid-19 outbreak in the mega-port through which the importation was to occur (that problem being in addition to the issues that our client experienced in seeking to transport the relevant equipment through the Panama Canal – in light of its recent blockage).
The result – This firm’s client has ‘unloaded the ship’ and they’ve ‘reverted’ to leasing in the U.K. (largely for ‘HS2’ use) – Please do NOT send us abuse!
Thankfully, as part of the legal due diligence undertaken for the acquisition – We did tell the client that the leasing agreements currently being utilised in the business were considerably ‘sub-optimal’ . . .
Equitable Law’s equipment leasing agreement template has accordingly recently been significantly updated (based upon the annexed long form precedent):-
Equitable Law – Equipment Leasing Agreement Extract
As ever with such matters, the legal draftsman’s ‘secret sauce’ is to be able to shorten and simplify commercial agreements – so as to be exactly what the client needs (and no more than necessary).
Please feel free to contact us if you would appreciate help with this area of law.
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