In Re Triplex Marine Maintenance, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the first part of the test was met by the inclusion of the following language in the lease in capital letters under the heading of “Important Conditions” that: “YOU [the debtor] UNDERSTAND AND AGREE THAT: (A) THE LEASE CANNOT BE CANCELED BY YOU AT ANY TIME FOR ANY REASON....”
• holding that the first part of the test was met by the inclusion of the following language in the lease in capital letters under the heading of \Important Conditions\ that: \YOU [the debtor] UNDERSTAND AND AGREE THAT: (A) THE LEASE CANNOT BE CANCELED BY YOU AT ANY TIME FOR ANY REASON. . . . \
• discussing problems with focus on parties' intent in determining whether lease should be characterized as secured transaction
• option price representing 10% of the original purchase price of the leased goods and 5% of aggregate rental payments made by the debtor held to be nominal
• trastee challenged true lease status by opposing equipment lessor’s motion for relief from stay
• “If a court determines that the [Bright-Line Test] does not compel a conclusion that a security interest was created per se, it should proceed to an examination of all the facts to determine whether the economic realities of a particular transaction create a security interest.”

Source: CourtListener parenthetical corpus (CC0).