Agenda
A 2010 primer on what you need to know.
Panelists from the United States and Canada discuss a variety of secured lending and tax issues related to cross-border financing. The seminar includes a thoughtful discussion of the important differences in the laws related to secured financing and the tax considerations that lenders and borrowers should consider.
Topics to be covered include:
- Uniform Commercial Code vs. Personal Property Security Act: Major similarities and differences
- Deemed Dividend/ Tax Issues (U.S.)
- Withholding Taxes (Canada)
- Wage Earner Protection Program Act (Canada)
- Other issues
- 30-day Goods (Inventory)
- Acceptance of Deposit Account Control Agreements by Canadian Banks
- Quebec – Special consideration
- Bankers Acceptances
Educational Benefits:
- Understand the major similarities and differences between the Uniform Commercial Code and the Personal Property Security Act.
- Understand the principle of Deemed Dividend (U.S.) and Withholding Taxes (Canada)
- Wage Earner Protection Program Act (Canada)
- Be fully aware of the impact of related issues, including:
- 30-day Goods (Inventory)
- Acceptance of Deposit Account Control Agreements by Canadian Banks
- Quebec – Special consideration
- Bankers Acceptances
Speakers
James E. Stief, G. Andrew Gardner, Mark D. Klimek, Douglas A. Hendler
Moderator
James E. Stief, Chair, Commercial Finance Practice, McDonald Hopkins LLC
Jim chairs the Commercial Finance Practice Group at McDonald Hopkins. He concentrates his practice in the areas of commercial finance, business planning and strategic analysis, raising capital, and general contract negotiation.
Jim serves as legal counsel and a business advisor to a wide variety of commercial lending institutions, specialty lenders, subordinated debt lenders and large and middle-market companies.
Speakers
G. Andrew Gardner, Member, McDonald Hopkins LLC
As a member in the Business Department at McDonald Hopkins, Andy focuses his practice on real estate transactions, commercial finance and lending, and mergers and acquisitions. He has commercial lending experience representing both lenders and borrowers in a wide variety of transactions, including construction loan transactions, permanent real estate financing transactions, structured finance transactions and bond financing transactions. He regularly works as the outside general counsel for one financial institution with respect to the institution’s commercial loan transactions. Andy has also assisted clients acquiring both small and large businesses through both asset and stock purchase transactions.
Mark D. Klimek, Chair, Tax Practice, McDonald Hopkins LLC
Mark chairs the Tax Practice Group at McDonald Hopkins. He is also a member of the firm’s Mergers and Acquisitions Practice Group.
A significant part of Mark's practice is representing clients in merger, acquisition and divestiture transactions. His experience in this area includes significant transactions involving corporations, partnerships, limited liability companies and tax-exempt organizations. He also represents clients in structuring the formation of business ventures using these different types of entities, and advises clients on business and tax issues relating to subsequent capital infusions.
Douglas A. Hendler, Partner, Aylesworth LLP: Toronto, Canada
Doug practices primarily in the areas of corporate commercial law, real estate and institutional financing. His corporate/commercial practice includes all aspects of legal services required by the business community. Doug regularly provides ongoing advice to business clients and acts on mergers and acquisitions, the sale of businesses, the structuring of business transactions and on the drafting and negotiation of agreements for businesses. Doug's real estate practice includes most aspects of land development, condominium law including the registration of condominiums and drafting condominium documents, lease work on behalf of both landlords and tenants and the purchase and sale of all types of real estate, including office buildings, apartment buildings, shopping plazas and single family residential real estate. Doug also acts for both borrowers and lenders in institutional and other financing transactions, including the financing of businesses and real estate