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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.
'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.
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.
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.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.