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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.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.