525 B Street, Suite 2200
San Diego, CA 92101
Sandra L. Shippey advises clients on a wide variety of business ventures including the purchase, sale and financing of corporate aircraft, asset-based financing, equipment leasing, Native American financing, loan workouts and restructuring, corporate mergers and acquisitions and estate planning. She has represented multi-national corporations, local businesses, Native American tribes and individuals and helped them achieve their business and personal goals. She has extensive experience and expertise in complex transactions in all of these areas.
Aircraft Purchase, Sale and Financing
- Represented a purchaser in connection with the purchase of an Embraer Legacy 650 aircraft.
- Represented a purchaser in connection with the purchase of a Gulfstream 650 aircraft.
- Represented lender in connection with a syndicated loan secured by a Gulfstream IV aircraft.
- Represented lender in connection with the sale of aircraft lease on a Falcon 900B aircraft by the lessor to another finance company.
- Represented lender in connection with an interim finance agreement for the purchase of a Dassault Falcon 7X aircraft.
- Represented lender in connection with a Million loan secured by a Bombardier Global Express aircraft and an amendment to document the exchange of the Bombardier Global Express aircraft for a Boeing business jet.
- Represented lender in connection with a loan secured by a Falcon 50 aircraft.
- Represented lender in connection with a loan secured by a Gulfstream V aircraft and additional collateral.
- Represented a lender/purchaser in connection with the purchase of a portfolio of aircraft loans secured by a Gulfstream V and other aircraft.
- Represented lender in connection with the acquisition loan for the purchase of an aircraft parts manufacturer.
- Represented a lender/seller in connection with a securitization of an aircraft loan portfolio.
- Represented purchasers in connection with their purchase of fractional ownership interests in aircraft through the NetJets program.
- Represented an aircraft fixed base operator in connection with the creation of a fractional ownership program for aircraft.
- Represented purchaser in connection with the purchase of a Cessna Citation aircraft.
- Represented airline in connection with an operating lease of an Embraer aircraft.
Asset Based, Tax Exempt and Commercial Real Estate Financing
- Represented a gaming company borrower in connection with a senior secured loan facility and a senior subordinated loan facility.
- Represented a regional bank in connection with a accounts receivable line of credit to a large regional law firm.
- Represented a national bank in connection with an asset based revolving line of credit to a bakery company secured by accounts receivable, equipment and inventory.
- Represented a national finance company in connection with (i) an asset based loan to a multi-state water purification company, (ii) an asset based loan to a national restaurant chain and (iii) an asset based loan to a multi-state equipment rental company.
- Represented a hotel developer borrower in connection with a real estate construction loan and a real estate mezzanine loan.
- Represented 501(c)(3) tax exempt entity in connection with a tax exempt loan secured by an assisted living community for the elderly.
- Represented hard money lenders in connection with numerous hard money real estate secured loans.
- Represented real estate investor in connection with loan secured by several parcels of real estate.
- Represented high tech borrower in connection with venture capital loan.
- Represented a large national finance company in connection with a true lease of equipment to national equipment rental company.
- Represented a large national finance company in connection with a synthetic lease of equipment to a logistics company.
- Represented a large national finance company in connection with a capital lease of equipment to a Las Vegas hotel.
- Represented large manufacturer of machine tools in connection with review of California Finance Lenders Law issues and the preparation of form conditional sale contracts for the installment sale of machine tools and equipment.
- Prepared form documentation for a large regional bank’s commercial mid-market equipment leasing program.
Native American Financing
- Represented Native American tribe in connection with a syndicated asset based revolving line of credit led by a large national bank.
- Assisted a large regional bank in connection with the preparation of form documents to be used with Native American tax exempt leasing transactions.
- Prepared a manual and conducted a training seminar for the in-house counsel and relationship managers of a large regional bank with respect to the basics of Native American tax exempt leasing transactions.
Loan Workout and Restructuring
- Represented a lender in connection with the workout and settlement of a defaulted equipment loan that was also secured by California real property.
- Represented loan guarantor in connection with the workout and settlement of a defaulted real estate loan.
- Represented snack food manufacturer in connection with the workout and settlement of a defaulted asset based loan.
- Represented lender in connection with an acceptance of an aircraft as full satisfaction of a loan and the sale of the aircraft by the lender to a third party.
- Represented hotel operator in connection with the workout and settlement of a defaulted real estate loan.
- Represented lender in connection with the foreclosure of (i) a loan secured by a Cessna Citation V Ultra aircraft and sale of the aircraft, (ii) a loan secured by a Cessna 560 Citation V Ultra aircraft and sale of the aircraft, (iii) a loan secured by a Cessna Citation II aircraft and the sale of the aircraft, (iv) a loan secured by a Cessna Conquest 1 aircraft and the sale of the aircraft.
Merger and Acquisition
- Represented a target company in the business of developing, licensing, maintaining and supporting portfolio management software programs used in the financial services industry that was acquired by a public company in an asset sale.
- Represented a target company engaged in the business of installing, implementing, customizing and marketing proprietary computer software in connection with its sale of all of its assets to a public company.
- Represented an inventor and his target company, that was in the business of inventing and prosecuting patents and developing systems and applications related to medical diagnosis and treatment advice and/or disease and care management, in connection with the sale of the target company’s assets to a public company.
- Represented shareholders of a software company in connection with its acquisition by a venture capital backed company.
- Represented target software company in the business of developing, licensing, maintaining and supporting schedule driven earned management systems that was acquired by a public company in an asset sale.
- Represented a leading provider of software solutions and professional services to the food services industry in connection with a merger into a foreign public company.
- Represented shareholders of a company in the business of developing, licensing, maintaining and supporting print management software in connection with stock sale.
- Represented an international software company in the worldwide business of providing enterprise resource planning and management information systems software to the packaging and printing industries in connection with a stock sale.
- Counsels clients in planning estates and preparing related documents including wills, revocable living trusts, irrevocable trusts, durable powers of attorney and advance health care directives.
- Martindale-Hubbell® AV Preeminent Rating
- San Diego Super Lawyers® - 2015-2017 (Mergers & Acquisitions)
- "Southern California's Top Rated Lawyers," Legal Leaders, 2012-2015
- “Top Lawyers,” San Diego Magazine, 2013-2017
- San Diego County Bar Association
- Junior Achievement of San Diego, Inc. – Board Member (2010 to Present); Executive Committee (2011 to Present); Board Co-Chair (2014 to Present)
- San Diego Christian Foundation – Board of Directors (2001 to 2011 and 2012 to 2014), Corporate Secretary (2001 to 2010 and 2012 to 2014), Chairman (2010 to 2011)
- Southwestern Christian Schools – Board of Trustees (2002 to 2011 and 2012 to 2014), Corporate Secretary, (2002 to 2011 and 2012 to 2014)
- The State Bar of California – Business Law Section Uniform Commercial Code Committee (2001 to 2005 and 2008 to 2011): Chair Hidden Liens Subcommittee. Chair Article 6 Repeal Subcommittee, Co-Vice Chair (2003 to 2004), Co-Chair (2004 to 2005)
- JD, Boston University, magna cum laude, 1982
- Diploma in Taxation, University of San Diego School of Law, 2012
- BA (Political Science), University of Colorado, with distinction, 1978
- Co-presenter. “UCC Article 9 Blanket Asset Lien Exclusions and Purchase Money Security Interests" Strafford Webinars, December 15, 2015.
- Panelist. "Native American Aviation and Airspace," Partners in Aviation Conference, Henderson, NV, March 30, 2015.
- Co-presenter. “Indemnification and Escrow Protection for Software Companies - Intelligent Risk Management for Sellers,” Software Equity Group – Software Industry Dollars, Deals, and Drivers Webinar, Nationwide, February 21, 2013.
- "A Cautionary Note on Possible Tax Reform Impacts on Corporate Aircraft Owners," November 8, 2017.
- "The Drone Industry-and Its Legal Complexity-Is on the Rise," August 17, 2017.
- “Is a Corporate Aircraft in Your Future?” July 12, 2017.
- "Guide for Non-U.S. Citizens Registering Aircraft with the FAA," April 2017.
- "Franchise Loans Made in California by Franchisor to Franchisee," November 16, 2016.
- "California Finance Lenders Law - Update: Do We Still Need a License to Do That Deal?" November 2016.
- "California Case Holds That Because Lender is Subject to the California Finance Lenders Law, Choice of Law Provision in Loan Documents is Not Enforceable," November 2016.
- "Commercial Bridge Loans Made by Venture Capital Companies to Operating Companies are Exempt From California Finance Lenders Law," November 2016.
- "What's Up? Native American Aviation and Airspace," The Blogging Circle, November 11, 2016.
- "Policy Clarification for the Registration of Aircraft to U.S. Citizen Trustees in Situations Involving Non-U.S. Citizen Trustors and Beneficiaries," November 2016.
- "Federal Excise Tax Audit Assessments to Be Suspended While Guidance Developed and IRS Clarifies Procedures Relating to Aircraft Management Fees with Respect to the Federal Excise Tax," November 2016.
- "Building a Tribal Economy from Thin Air (Space)," The Blogging Circle, March 30, 2016.
- "The Internal Revenue Service Addresses the Federal Income Taxation of Per Capita Distributions to Tribal Members," The Blogging Circle, October 1, 2015.