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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.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.