All articles by Verdict Staff
Verdict Staff
Contract awards for European public sector deals
Contract awards for European public sector deals
The Entrepreneur
Leasing Life sheds light on the assets you should be financing in a downward market.
Close: £600k sale and leaseback
Close Leasing has completed a £600,000 (698,000) sale and leaseback with Sarantel, a manufacturer of filtering antennas for mobile and wireless devices. Sarantel realised net proceeds of £311,000 on the deal, which is a 36-month finance lease with a monthly rental of approximately £20,000
Fraikin delivers 21 DAF trucks
Transport lessor Fraikin has delivered 21 new DAF 26 tonne rigids to paper processing company SCA Recycling. The deal, which is being supplied on a five-year full-service contract hire agreement, includes all servicing and maintenance of the chassis and bodywork, managed by Fraikins central customer support centre in Coventry. With the delivery, over a quarter of SCA Recyclings 75-strong fleet will be replaced, and Fraikin remains the companys sole supplier of commercial vehicles
GE TIP chosen by Asda
GEs TIP Trailer Services has been chosen as the preferred supplier of ambient and refrigerated trailers for Asda, which has extended its relationship with GE until the end of 2009. TIP Trailer Services will also provide a fleet of mobile service units that will be undertaking service work at Asda locations.
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Successful month for Lombard
Lombard has had another successful month, having signed a £12 million (14 million) deal with the Automobile Association (AA) to supply 167 recovery vehicles. The asset finance company, which has already provided the AA with around 2,400 assistance vans and other types of vehicles, will supply the new vehicles between now and the end of 2010 under a five-year operating lease agreement. Last month, Lombard also signed a £3 million coach deal with Moffat & Williamson, a Scottish coach operator, to renew its fleet
Analysis: Bank-owned lessors
Lenders in the Republic of Ireland are cutting back on business to a huge extent, with Bank of Scotland Ireland expected to announce the closure of its asset finance business in tandem with a possible shutdown of its Halifax branch network AIB has announced its closure to broker business outside the motor sector this month, following Bank of Irelands refusal of introduced deals at the end of June
Lease reclassification could spark litigation in Poland
From an economic point of view, the possibility of replacing a lessee no longer able to pay its instalments with one in a stable financial position and able to pay is a solution generally looked for by all leasing companies However, in the Polish leasing market, a change of both the lessee in a lease agreement, combined with the change in the classification of the leasing agreements that emanates from this, are still subject to many controversies
Tough decisions
In a six-page special report, Leasing Life examines the declining state of Europes bank-owned leasing industry and discovers there is still hope for the future.