All articles by Verdict Staff
Verdict Staff
Basement talk
Dear readers, welcome to Basement Talk, where Leasing Lifes reporting team file their unique and colourful insights into the more informal side of the asset finance industry.. A good couple of months for lessors in London, as the onset of warmer weather has been marked by a clutch of well-received social events In addition to the perennially popular FLA spring drinks marked this time by good news that UK brokered asset finance and consumer motor finance were trending above their performance in early 2008 a couple of Olympics-themed festivities really helped get the summer going.
Collections Nightmares
Ever found yourself on the runway of a developing nations airport about to repossess some long-sought asset, only to be surrounded by a private militia wielding former Soviet machine guns? Perhaps youve turned up at a premises in Middlesbrough to collect a car only to be threatened with grievous bodily harm by a former client turned menacing Neanderthal. Whatever your Collection Nightmare we at Leasing Lifeare looking for the worst repossession tales from anywhere in Europe for this diary page, so get in touch if you have a horror story worth sharing, or perhaps a leasing myth that youve heard.
Work-life quiz: Peter Collins, MD, MAN FS
Name: Peter CollinsCurrent job: Managing director MAN Financial Services PlcLocation: UK
Basement Talk
Eons from now our descendants will look back on the late 20th and early 21st centuries and marvel at the seemingly infinite patience with which we listened to snippets of cruise-ship recordings and low-grade classical pieces while waiting to change our postal address with the bank or haggle fruitlessly with the gas company.
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New communication tools in vendor finance
So, the salesperson could present the client with a tailor-made financing plan at the time of the sale of the product, building, without constraints, a financial package adapted to the client and to the equipment sold.
Editor’s letter: Time to make some noise
As Leasing Lifes home market, the UK looms unavoidably large in this editorial teams perception of the world of asset finance. This last month in particular, however, seems to have been a particularly intense month for the British industry fortunate, considering this was the month set for publication of our annual country focus feature on the UK.
Casebook: Greg Standing
Leasing companies know that a party seeking to avoid liability for debts that it has guaranteed will use all arguments available to enable it to do so. One recent argument has been that a guarantee contained in a chain of emails without a manual signature having been appended to it is unenforceable
No trading loss relief for partners
The question of whether an equipment lessor is trading is important because it allows the lessor to surrender any tax losses it makes (for example, as a result of claiming capital allowances, the tax relief available in the UK for depreciation, on its equipment) and to receive surrenders of losses from other companies in the lessor group to reduce the lessors taxable profits.
CALMS down under for tractor lender
Asset finance software provider White Clark Group has provided its CALMS2 software system to Kubota Australia Finance (KAF) in record time White Clarke set up its system with tractors, ground care and excavator equipment lessor KAF, from initial analysis to going live, in seven months. Colin Fleischmann, director WCG Asia Pacific, said: Kubota is a key customer, with industry leadership in their products and offerings