Credit Suisse-backed Park Motor Finance is the latest UK SME lessor to have exited the market for new business as the global credit crunch continues to bite. The decision to stop lending was taken in light of the continued poor conditions in the credit markets and uncertain economic times, said Maureen Coen, head of European conduit finance at Credit Suisse
Credit Suisse-backed Park Motor Finance
is the latest UK SME lessor to have exited the market for new
business as the global credit crunch continues to bite.
The decision to stop lending was taken “in light of the continued
poor conditions in the credit markets and uncertain economic
times”, said Maureen Coen, head of European conduit finance at
Credit Suisse.
There is still uncertainty over whether the portfolio will be sold.
Its chief executive officer, Dr Roger Gewolb, who has a stake in
the business, has resigned.
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