Manufacturing & Machinery
Dressler Peters provides cost-effective guidance on all aspects of manufacturing finance, and related distribution, inventory maintenance, floor plans, and consignment agreements. Likewise, contract enforcement, including covenants not to compete and the protection of proprietary information is an area where Dressler Peters can be of particular help.
Oil & Gas (Downstream)
Our extensive background in oil & gas and related downstream operations arises out of the preparation of security agreements, consignment agreements, marketing agreements, warehousing agreements, inventory agreements, distribution agreements, and related transport agreements. Likewise, we provide advice and guidance regarding the perfection of an interest in extracted oil, and navigate through the applicable state specific laws. A frequent misperception in the oil industry is that title to product is always of paramount importance. For example, “title and risk of loss” remains with the owner of the product until it passes a designated flange. However, pursuant to 9-202 of the UCC title to collateral is usually immaterial as to the financing aspect of oil and gas as collateral. We also provide guidance on letter of credit issues, and have given advice on letters of credit of up to $300,000,000.
Dressler Peters represents lenders in making operating loans and equipment loans to commercial trucking companies. We can prepare all the documents to consummate the operating loan or the financing of equipment for the trucking company, including any asset-based loan agreements, equipment lease agreements, equipment financing agreements, TRAC leases, and conditional sales contracts. Likewise, we prepare equipment delivery & acceptance agreements, prefunding agreements, maintenance escrow agreements, risk sharing agreements, insurance agreements, and other related documents. Similarly, when Federal Motor Carrier Safety Administration (FMCSA) regulation issues arise we provide guidance. We have extensive knowledge of Articles 2, 2A, 7 and 9 of the Uniform Commercial Code and extensive experience in locating and recovering trucks and trailers. Our experience is particularly useful when the nuances of the bankruptcy code are involved. We have litigated recovery of assets and pay-back of trucking industry loans in more than 20 states. Likewise, warehouseman liens, garageman liens, mechanics liens, and the like are a frequent source of frustration for lenders seeking recovery of trucking assets, and Dressler Peters has extensive expertise in the nuances of such laws and provides practical approaches to negotiating with the third-parties demanding payment prior to turnover of the truck or trailer.
Dressler Peters represents clients in buying, selling and leasing of aircraft as well as related aircraft financing and refinancing, financial restructuring, and recovery of aircraft. To this end, we assist clients in evaluating aircraft title and lien issues, negotiate escrow terms, assist in the appraisal process, and conduct closings including to ensure proper filing of documents for registration and perfection.
We represent aircraft owners and lien holders in disputes with insurance companies, and have extensive experience generally in navigating the complexities of insurance coverage issues. We also have extensive experience representing of banks in bankruptcy and insolvency proceedings involving aircraft. For example, we represented the Sr. Lender in the Turnaround Management Association’s 2013 Small Company Turnaround of the year. We forced an aircraft ambulance company into chapter 11, worked on restructuring including a 363 sale followed by receipt of seven figure lump sum payment to the Sr. Lender plus re-wrote the remainder of debt for payment over time (with de minimus cram down).