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Abacus
Sues Leasing News for Five Million Dollars ($5,000,000) Actually
they also sued the company that made the complaint to the bulletin board, plus
Kit Menkin as an individual and American Leasing, a company in which
Menkin is a principal. “9.
The defendant, Christopher L. Menkin seeks any type of news and without
verifying the facts publishes information maliciously with the intent
of defaming companies
to steal leasing business away to his own company American Leasing,
Inc. (That
is not my legal name and American Leasing is a limited liability partnership, which
acts basically as a lessor and discounter for leases primarily in Santa
Clara Valley,
California. Leasing News is a separate company incorporated in the State
of California.) “10.
As a result of the defendants’ conduct in posting allegations concerning
plaintiffs, derogatory information is being disseminated defaming the
plaintiffs causing
plaintiffs to lose substantial business and future business. (Abacus
Leasing kept a $50,000 deposit from a prospective lessee that was
never funded. A copy of the commitment
letter states the money will
be returned if the lease is not “funded” and makes no mention at all
regarding keeping a $50,000 deposit. In fact, such an arrangement in
reality can only be described as is preposterous in the leasing industry. The actual agreement was provided in a “pdf”
form for readers to make their own decision (you will read the document
spells out the fee should the lessee http://www.leasingnews.org/Conscious-Top%20Stories/abacus.htm Leasing News spoke with Matt Burke of Abacus Leasing, who
said he would have a statement, then did not return three subsequent
telephone calls, then after two
faxes, returned the third saying he would be entering in a law suit
if we printed the complaint from Pacific Toxicology Laboratories---
who wanted their $50,000 deposit returned because (a) the lease was
never put together, plus (2)Abacus was never entitled to the $50,000
deposit, according to their own signed commitment letter. For the record, Leasing News is a separate entity form American
Leasing. American Leasing has never conducted any business from any
referral from Leasing News---ever. None. Never. 100%. Nada. Never happened. While Leasing News receives requests for referrals, they
are given to brokers, funders, and others who ask advice. If a lessee, applicant, or any individual involved in a complaint seeks a lease, whether a vendor or
lessee, in almost all cases they are referred to the National Association of Equipment
Leasing Broker website that has a list of brokers and their specialties.
These are companies who abide by the NAELB Code of Ethics. We were successful in many applicants having their “advance
rentals” or “deposits” returned. When
this is accomplished, there is no complaint to be posted. It is
not uncommon for a lessee to be grateful to receive $1,800 or “$9,700 ” return to them. After hearing that the check has cleared the bank, and want to send us remuneration, we suggest
they contribute to the Equipment Leasing and Finance Foundation
http://www.leasefoundation.org/.
We seek no remuneration nor do we accept it. http://www.leasingnews.org/Conscious-Top%20Stories/LN_2002_BB_Complaints.htm We do give recommendations for books, websites, information,
but when it comes down to representing a lessee or vendor, almost
all referrals are made to the www.naelb.org
site. American Leasing has no “broker” program and in the last
two years, about 100% of their customers are within one hour driving
time of the main office. Both companies go to lengths to distant their
activity from telephone, bank account, physical address, and type of
activity. They are separate and distinct. “Wherefore, the plaintiff respectfully demands that a Temporary
Restraining Order be entered prohibit the defendants from further dissemination
of issues before a court of law be publicly displayed, a money judgment
in favor of the plaintiff against the defendants jointly and severally
in the amount of Five Million ($5,000,000) Dollars, including punitive damages and reasonable
attorney fees and for such other relief deemed just and property by
the court.” We have referred the matter of the $50,000 deposit not being
returned to the Attorney General’s Office of New York State. By the way, we checked with the State of California Department
of Corporations, when the transaction was signed, Abacus Equipment Leasing,
Inc. dba Abacus Leasing and Mathew Burke were not licensed under the
Finance Laws of the State of California. If Mr. Burke has any comments on any of these complaints,
we welcome them and will print them as we originally requested in our first telephone
conversation to hear his side to the story. Basically, we ask readers to go to the “pdf” of the commitment
letter and make up your own minds regarding the return of the $50,000 deposit. We also ask if there is an attorney in New York State who
will defend us “Pro Bono” as our main purpose has been to bring truth
to the industry without financial reward. |
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