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In The Marketplace
Orion First Financial, LLC of Gig Harbor, WA and Alliance Funding Group, Inc. of Anaheim, CA have announced the formation of a new joint venture, Alliance Financial, LLC. The joint venture has established a revolving line of credit with PFF Bank and Trust to warehouse leases originated by Alliance Funding Group, Inc. The new venture bundles the warehoused leases into portfolios and the lease receivables are sold to Union Safe Deposit Bank under a permanent funding facility. Orion First Financial, LLC will provide lease servicing and administrative services to Alliance Financial, LLC and Union Safe Deposit Bank.
Equilease Financial Services, Inc. of South Norwalk, CT has announced the acquisition of a transportation lease portfolio comprised substantially of over-the-road car carriers from a regional bank leasing company. The portfolio consists of 62 schedules aggregating $6.9 million of gross receivables and total original equipment cost of $9.9 million. The average remaining term and seasoning was 32 and 25 months, respectively. The purchase was the fifth portfolio purchase by Equilease since September 2003. The total amount of receivables purchased since September by Equilease was $52.2 million comprised of 589 lease/loan schedules having an aggregate original equipment cost or original balance of $139.5 million.
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.