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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.
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.