All articles by Verdict Staff
Verdict Staff
Who’s Who of leasing set to be launched worldwide
The book, due to be published in August by Whos Who Publications, in conjunction with Leasing Life magazine, will contain the personal and professional details of directors and partners in UK leasing, rental and asset finance
Immorent Hungary and Romania shine in real estate leasing markets
Immorent Hungary, Hungarys fourth largest leasing company, doubled the value of new contracts for year-end 2007 to HUF 26.3bn (0.1bn) from HUF 10.5bn (0.04bn) in 2006, while Immorent Romanias turnover surged 87 per cent in 2007 and it expects it to increase by 52 per cent on the year in 2008
KBC to exit NLB after failure to secure control
Belgian banking group, KBC has begun a tender process to sell its entire 34 per cent stake in Slovenias Nova Ljubljanska Bank (NLB) after failing to acquire a majority share in the financial group
Doing it alone
With only 23 leasing companies, all bank-owned, and limited foreign intervention, the Portuguese leasing market, like its banking sector, is characterised by high consolidation and virtually non-existent M&A activity
Former Fortis Lease boss joins Zenith Vehicle Contracts
Gerard Moon, the former CEO of lessor Fortis Lease UK, is to join independent vehicle leasing company Zenith Vehicle Contracts in the role of commercial director
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Vehicles driving forward Russian lessor Europlan
Its commercial vehicle business saw particular growth with its truck leasing arm grew 170 per cent to 4,218 vehicles, while special vehicles went up 130 per cent to 2,116 Last week the lessor received a 15.8m loan from ICICI Bank (UK) PLC, the UK subsidiary of ICICI Bank, Indias second largest bank, which Europlan plans to use in order to buy and lease cars and equipment.
State Securities implements small firms’ loan extension
State Securities (SS) has extended its Small Firms Loan Guarantee (SFLG) facility to companies that have been trading over five years The change, which accompanied the recent UK Budget, returns the facility to the status quo prior to the 2004 Graham Review Andrew Bullard, director at SS explained that the facility was available to firms which have a viable business proposal but, due to lack of track record, have failed to obtain finance through conventional channels
Tories will cut capital allowances to 12%
The partys decision, made clear in a statement by George Osborne, the Shadow Chancellor, quickly follows the current governments decision to reduce capital allowances by 5 per cent to 20 per cent.
Wragge & Co boosts asset finance litigation team
The team advises on strategic and complex litigation, as well as using technological innovations to process volume secured and unsecured claims and Standing will offer his experience in handing complex ownership disputes between banks and other lenders, loss recovery, fraud and professional negligence
Touax Rail to double its leased railcar fleet
European intermodal railcar leasing company Touax Rail has placed an order with Luxembourg-based International Railway Systems (IRS) for 6,000 railcars to be delivered between 2009 and 2012 The railcars comprising 3,600 intermodal railcars for the transportation of shipping containers, 1,200 railcars for iron and steel transportation, and 1,200 hopper cars for the movement of coal transportation will be leased in Europe, including the UK market, but excluding Spain and Russia