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In The Marketplace
Bank of the West of San Francisco has announced the promotion of Jerry Newell to executive vice president. Newell is the head of the $28 billion asset bank's Equipment Leasing Department, which serves businesses via the bank's nearly 300 branches and through brokers and vendors across the country. Newell started with the bank in 1987 and has been with the Equipment Leasing Department for more than 9 years. Under his management, the department has grown from $30 million in lease assets in 1994 to $650 million as of Sept. 30, 2003. Newell oversees three equipment leasing business lines at Bank of the West: indirect leasing nationwide, direct leasing within the bank's Western states footprint, and nationwide vendor leasing through subsidiary Trinity Capital Corporation. Prior to this promotion, Newell was senior vice president, a position he held since 1998.
DVI Inc. of Jamison, PA has announced that it has reached a preliminary agreement to transfer to a unit of U.S. Bancorp the right to collect payments on DVI leases. DVI Financial Services, the leasing subsidiary of the bankrupt health care finance company, has agreed to transfer the rights to US Bank Portfolio Services, pending approval of the U.S. Bankruptcy Court in Delaware. DVI filed for bankruptcy protection in late August after “apparent improprieties” in its financial dealings prevented it from securing new financing. DVI is attempting to pay back lenders by liquidating assets piecemeal. In late October, it announced the sale of 133.7 million euros of assets to ING Lease Holding NV, a unit of the ING Group.
Trinity Industries Leasing Company of Dallas, the wholly owned leasing and management services subsidiary of Trinity Industries, Inc., announced the completion of a long-term financing of a portfolio of leased rail cars in an asset-backed leveraged lease transaction. Proceeds to Trinity were used primarily to retire existing debt of $217.5 million. Trinity Industries, a leading diversified industrial company, has five principal business segments: the Trinity Rail Group, Trinity Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group and the Industrial Products Group.
DVI Inc. of Jamison, PA has announced that it has reached a preliminary agreement to transfer to a unit of
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?