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In the Marketplace
Penske Truck Leasing Co., L.P. of Reading, PA, has completed the acquisition of Texas-based Bright Truck Leasing & Bright Distribution, a privately owned full-service truck leasing, truck maintenance, commercial truck rental, and logistics services provider. The acquisition adds approximately 3,400 tractors, trucks, and trailers to Penske's existing fleet. Penske is now integrating Bright's facilities, staff, vehicles, and processes into its existing network. Challenger Capital Group, Ltd. acted as financial advisers to the selling parties. Penske Truck Leasing is a joint venture among Penske Corporation, Penske Automotive Group, and General Electric.
Stearns Bank N.A. of Albany, MN, has announced that its Equipment Finance Division has purchased a $23 million portfolio consisting of 830 small-ticket leases. Stearns Bank is an independent and employee-owned bank with $1.4 billion in assets and $220 million in capital. CEO/Chairman, Norman Skalicky, stated, Stearns “is one of the strongest and most well-capitalized banks in the nation and we are prepared to purchase multiple performing lease portfolios. We are looking for opportunities.” The bank has provided nationwide equipment lease financing programs in multiple industries for more than 30 years.
Penske Truck Leasing Co., L.P. of Reading, PA, has completed the acquisition of Texas-based Bright Truck Leasing & Bright Distribution, a privately owned full-service truck leasing, truck maintenance, commercial truck rental, and logistics services provider. The acquisition adds approximately 3,400 tractors, trucks, and trailers to Penske's existing fleet. Penske is now integrating Bright's facilities, staff, vehicles, and processes into its existing network. Challenger Capital Group, Ltd. acted as financial advisers to the selling parties. Penske Truck Leasing is a joint venture among Penske Corporation, Penske Automotive Group, and
Stearns Bank N.A. of Albany, MN, has announced that its Equipment Finance Division has purchased a $23 million portfolio consisting of 830 small-ticket leases. Stearns Bank is an independent and employee-owned bank with $1.4 billion in assets and $220 million in capital. CEO/Chairman, Norman Skalicky, stated, Stearns “is one of the strongest and most well-capitalized banks in the nation and we are prepared to purchase multiple performing lease portfolios. We are looking for opportunities.” The bank has provided nationwide equipment lease financing programs in multiple industries for more than 30 years.
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.
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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
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?