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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.
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.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
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.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.