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In the Marketplace
GE Capital of Norwalk, CT, and Element Financial of Toronto have entered into an asset purchase agreement for Element to acquire GE Capital's Canadian fleet portfolio and for the two companies to form a strategic alliance to deliver comprehensive vehicle fleet financing and management services to cross-border customers in Canada and the United States. Under the terms of the agreement, Element will acquire GE Capital's existing Canadian fleet portfolio for C$570 million, along with the GE Capital Canada fleet operational resources required to service this portfolio. These Canadian operations will be combined with Element's existing fleet management business, TLS Fleet Management. In addition to serving the domestic Canadian fleet industry, the combined entity operating under the Element Fleet Management brand will serve Canadian customers under a Strategic Alliance Agreement between Element and GE Capital Fleet Services.
HNA Group Company Limited of China has agreed to acquire GE Capital's TIP Trailer Services, a European provider of transport equipment leasing, rental and service solutions. Following the acquisition completion TIP will operate a network of 48 branches throughout 16 European countries, with over 100 rental locations, more than 50 workshops and 100 mobile service vans. TIP has a transport equipment fleet in excess of 45,000 units. HNA Group, a diversified services and integrated operations company, is advised by Bravia Capital of Hong Kong, with whom it has historically partnered on other transactions.
Capital One Bank of New York has expanded its Equipment Finance business with the appointment of 13 new team members. The new members, all based in Towson, MD, include: Lorraine Carpenter, assistant vice president; Rich Cumbers, vice president; Rick Dusek, vice president; Greg Faherty, vice president; Mary Geiger, assistant vice president; Annette Grzymala, assistant vice president; Andrew Henry, assistant vice president; Chad Kolb, vice president; Eric Moore, senior vice president; Candice Sjolander, assistant vice president, and Joan Templeton, assistant vice president. The majority of the new hires join Capital One from SunTrust Equipment Finance & Leasing Corp. Capital One Bank's equipment finance solutions include term loans, finance leases, tax leases, and terminal rental adjustment clause (TRAC) leases with a focus on transactions that range from $500,000 to $50 million. Senior vice president Dan McKew leads the team.'
GE Capital of Norwalk, CT, and Element Financial of Toronto have entered into an asset purchase agreement for Element to acquire GE Capital's Canadian fleet portfolio and for the two companies to form a strategic alliance to deliver comprehensive vehicle fleet financing and management services to cross-border customers in Canada and the United States. Under the terms of the agreement, Element will acquire GE Capital's existing Canadian fleet portfolio for C$570 million, along with the GE Capital Canada fleet operational resources required to service this portfolio. These Canadian operations will be combined with Element's existing fleet management business, TLS Fleet Management. In addition to serving the domestic Canadian fleet industry, the combined entity operating under the Element Fleet Management brand will serve Canadian customers under a Strategic Alliance Agreement between Element and GE Capital Fleet Services.
HNA Group Company Limited of China has agreed to acquire GE Capital's TIP Trailer Services, a European provider of transport equipment leasing, rental and service solutions. Following the acquisition completion TIP will operate a network of 48 branches throughout 16 European countries, with over 100 rental locations, more than 50 workshops and 100 mobile service vans. TIP has a transport equipment fleet in excess of 45,000 units. HNA Group, a diversified services and integrated operations company, is advised by Bravia Capital of Hong Kong, with whom it has historically partnered on other transactions.
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.
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?
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.