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Wednesday,
July 21,2004
Headlines---
Classified
Ads----Leasing Industry Attorneys
Terminal
Marketing/Wells Fargo “Hell and High Water Contract”
Fraud
Involved with NorVergence Payroll?
TAA----Call
All Lawyers! Just 17 Leasing
Companies?
Marlin
Business 2nd Q Results Conference Call For July 28, 2004
Research
and Markets: Airfinance Annual 2004 / 2005
Peter
Petropulos Joins GMAC Commercial Finance
U.S.
Bancorp Oliver-Allen Tech. Adds Online Asset Tracking
UAEL
Orange County July 29 Game Night
UAEL
Colorado Rockies August 6
No.Cal
UAEL "Day at the Races" August 19
######## surrounding the article denotes it is a “press
release”
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Classified
Ads----Leasing Industry Attorneys
Listed are Attorneys
and law firms who specialize in the leasing industry, belong to a leasing association, and are looking for clients to
represent---free ad
California - statewide:
CA "ELA"
5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders,plus collection and creditor rep. in bankruptcy.
Email: phemar@hemar.com Website: www.hemar.com
California - statewide:
Encino, CA. "ELA"
24 Attorney AV-rated Law firm representing the Leasing Industry for over 25 Years. We specialize in Lease-enforcement, collection and representation in Bankruptcy Court.
email: sjenkins@hemar-rousso.com
Website: www.hemar-rousso.com
Connecticut, Southern New England: EVANS, FELDMAN & BOYER, LLC Collections, litigation, documentation, portfolio sales and financing, bankruptcy. We represent many of the national and local leasing companies doing business in this state. Past chairman EAEL legal committee. Competitive rates.
email: rcfeldman@snet.net
EAEL
Law Firm - Service,
Dallas, TX. ELA
Mayer regularly practices in leasing, secured financing, project development and finance and corporate finance.
email: dmayer@pattonboggs.com
Website: www.pattonboggs.com
Los Angeles, Statewide: CA. "ELA" Aggressive creditors rights law firm specializing in equipment leasing handling collection matters on a contingency, fixed fee or hourly basis.
email: RGarwacki@prodigy.net
Los Angeles -statewide:
CA "ELA "
Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591- 2121 or email.
Email: rrcohn@aol.com
National: Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs:
Email: poetbarry@aol.com
Website: www.leaselawyer.com
National:
Coston & Lichtman: Business
attorneys serving the lease-finance industry since 1980. Transactional, documentation, corporate; workouts, litigation, bankruptcy. Chicago & Florida offices. Jim Coston, CLP (Members: ELA/UAEL/MAEL)
email: Jcoston@costonlaw.com
Website: www.leaselawyer.com
Northern California
- Statewide: CA "EAEL" "ELA" San Francisco expertise
at Marin County prices; practice limited to equipment leasing and finance
with 22 years experience, testimonials. Ken Greene, Esq.
Vox: 415 461 3777
Email: keng@kengreenelaw.com Website: www.kengreenelaw.com
full listing of all classified ads at: http://64.125.68.90/LeasingNews/JobPosting.htm
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Terminal
Marketing/Wells Fargo “Hell and High Water Contract”
“Thanks for posting
the depositions from the Wells Fargo litigation, which
will help the little
guys mount an effective defense against Wells Fargo
rather than make
the 'economic decision' and pay greenmail.
“ We just sent you
the O'Connor Deposition, the Wells manager on the spot during Oct, Nov,
Dec, Jan 2000-01 when the fraud occurred.
This one lays bare the people and
documents at the
actual lease assignment level - the point when Terminal
Marketing Company,
Inc. supposedly assigned leases to Terminal Finance Corp
II and Wells Fargo
facilitated investors providing funding with the TFCII
leases as collateral. What information was available to Wells at
the point
of supposed assignment?
“The dirty little
secret is admitted to - that Terminal Marketing was Wells'
servicing agent for
the lease-level actions in the portfolio.
Wearing this
"hat" Terminal
Marketing had a legal duty to tell Wells what was going on
with the trust assets,
the instant after the point of assignment.
What
about the instant
before, or the many instants going back to 1995?
Is the
court going to permit
Terminal Marketing to lean on one buttock (servicing
buttock) and know
the status of the leases but lean on the (assignor)
buttock and not know? We don't think so.
“But the key hurdle
to obtain a ruling that knowledge was imputed to Wells
based upon the legal
duties of Terminal Marketing as servicer and seller and
the multiple roles
, going back to 1995. What roles? Wells' litigation
position "We
are the Indenture Trustee, with limited, ministerial duties"is
a knowing misstatement
used to bluff defendants and mislead the courts.
Wells Fargo handled
the lockbox (deposits) account, was the back-up servicer
with oversight of
Terminal Marketing, worked with Terminal Marketing
personnel in the
joint production of financial reports, and also worked for
TFCII as "note
administrator." These multiple
roles are not ministerial,
they involve oversight
and access to Terminal personnel and files.
A ruling
that Terminal Marketing
was appointed "agent" for lease level activities
would normally impute
knowledge to Wells - and defeat their aspirations of
collecting from the
victims rather than their former business partners at
Terminal Marketing.”
Keep in Touch
Dale Washington
714 593-2317
Please find attached
the final transcript of Eileen O'Connor taken
Wednesday, July 14.
http://two.leasingnews.org/loose_files/OCONNOR.htm
------------------------------------------------------------------------------------
The Foundation Issues Report: to Help Lessors Forecast Quality, Evaluate Stability
The Equipment Leasing
and Finance Foundation yesterday released a new report providing lessors
with tools for evaluating the quality and stability of their operations.
http://www.two.leasingnews.org/loose_files/ForecastingQuality.pdf
“ Forecasting Quality
is a study that identifies key measures and useful indicators helpful
in successfully managing an equipment leasing and finance business measures that can be used to improve the financial
quality of the industry. Lessors can use Forecasting Quality to evaluate
their own financial health, which of possible acquisition to targets,
and continue to make good business decisions. The study isolates tools
helpful in achieving success and is based on an analysis and review
of the trends and signals that occurred in The Perfect Storms Study.
These tools are separated into two categories. The first category consists
of filters that can be used to assess the internal preparedness of the
company for dealing with ongoing events. The second category is more
specific in nature and relates to industry benchmarking.”
The report was produced
by The Alta Group, an international lease finance consulting firm. It
is viewed as a follow-up to their well-read and respected “Perfect Storm”
report issued in 2001.
http://www.leasingnews.org/Conscious-Top%20Stories/nuggets.htm
----------------------------------------------------------------------------------------
Classified
Ads---Help Wanted
Account
Executive / Small ticket leasing account reps
|
About
the Company: Bank
of Blue Valley is a locally owned community bank with $600 million
in assets. We are one of the leaders in the Kansas City financial
community. Our bank offers true community banking with services, |
.jpg)
|
|
Business
Development Office
|
Business Development Officer,leasing exp.,min 3 yrs business & direct sales exp. Banking procedure knowledge helpful. Gilroy, CA location, serving four surrounding counties. E-mail valdezd@1stnational.com or see Career Opportunities www.pcbancorp.com About the Company: Pacific Capital Bancorp is a $5+ billion, multi-bank holding company dedicated to providing an enduring network of community banks on the Central Coast of California. This unique partnership of independent banks provides customers in six California counties with the financial strength and product diversity of a big bank, delivered with the responsiveness and personalized attention of a local community bank. |
Credit-Funding-Operations
|
Credit Analyst: Seeking an energetic and organized Credit Analyst. At least one to two years of experience as a Credit Analyst in financial services (banking, insurance, leasing, or mortgage) is required. Funding Manager: Seeking a very organized, detail oriented Funding Manager. Minimum two years experience in brokering and discounting commercial equipment transactions is required. Operations Manager: Seeking an experienced Operations Manager with knowledge of all sides of operations. Must have a minimum of five years related experience. Send
email or fax to Ryan Johnson, Corporate Recruiter. |
Marketing
Indirect Origination
 MARKETING INDIRECT ORIGINATION: New York. One of the largest ind. equip.lessors needs motivated, self-starter to purchase single investor leases from institutional investors; min.transaction $1 million; portfolio of primarily investment grade lessees/good "story credits". Min 3 yrs exp. sourcing/ originating leasing transactions, knowledge of credit and pricing. E-mail: jobposting1@leasingnews.org |
Specialist
|
Port Leasing Sales Officer - Port of Long Beach:
conducts/oversees negotiations for leases, permits, property acquisition;
prepares lease proposals; negotiates prop. acquisition; neg. lease
agreements with new/existing tenants; develops financial info.
to analyze lease proposals. College degree expected. Contact:
Stuart Satow, CPS Executive Search 916-263-1401,
ssatow@cps.ca.gov |
-------------------------------------------------------------------------------------
Fraud
Involved with NorVergence Payroll?
from Yahoo listserve:
“Your email has been forwarded to the NJ Department of
Labor and Workforce
Development - Division of Wage and
Hour Compliance for
review and response.
“We have just been
advised that NorVergence has filed
Chapter 7 on July
14, 2004. Since the company is
declaring bankruptcy,
it will be necessary for you to
file with the Bankruptcy
Court. Contact the United
States Bankruptcy
Court at 1-973-645-4764 to request a
Proof of Claim form.
The case number is 04-32079.
Chief Judge Rosemary
Gambardella has been assigned to
this case. The last
date to file a claim is November
29, 2004.
“It is necessary
for you to file the complaint with us
and a Proof of Claim
with the Bankruptcy Court in
order to fully protect
your rights.
“Although the company
is declaring bankruptcy, we will
likely proceed against
the owner as an individual. If
you have not filed
a wage claim form, please feel free
to complete the attached
forms. If you or your fellow
workers have any
information that would indicate there
was any intent to
defraud by the owner, please include
this information
when you return the complaint form.
The completed form
may be returned to the address
indicated on the
form.
“I hope you will
find this information helpful and if
you need anything
further, please contact Donald Povia
at 609-984-3008.”
Cathy Ossmann
NJ Department of
Labor and Workforce Development
Division of Wage
and Hour Compliance
(609) 292-1704
www.nj.gov/labor
---
“We have made legal
contact with both Norvergence and our leasing
company (Popular).
Of course, I am not at liberty to post the
specifics of our
claim in this forum, but our attorney's contact
information is as
follows:
“Ronald E. Quirk,
Jr., Esq.
Venable LLP
575 7th Street, NW
Washington, DC 20004-1601
Tel: (202) 344-4677
Fax: (202) 344-8300”
“Good luck to you
all. If you have any NON-legal questions or
concerns, shoot me
an email and I will try to respond accordingly.
In short, our cell
phones are resolved. Since Norvergence is no more,
we are not expecting
anymore bills from them. So, that has resolved
itself. We have already
switched over our phone and internet
service. Our lone
remaining issue is the leasing company.”
The issue regarding
Terminal Marketing and Wells Fargo may be more similar
to NorVergence than
note, particularly in view of the issue of "holder in
due recourse,"
according to attorney Dale Washington.
“Read with interest
about NorVergence, spoke to some of the Victims, and have a
perspective which
may help:
Keep focused productively.
With planned, conspired fraud the key wrongdoers
are (always) over
the next hill or at least the money is gone when it comes
to light. It is tempting to commiserate over the details
of the fraud, but
do not build a case
against a ghost. The productive
activity is to prepare
to defend and possibly
sue the legit participants - equipment suppliers,
service providers,
or financial institutions that provided the forms, issued
the leases and were
participants - see if they are legally responsible under
agency, joint venture,
or negligence theories.
“Victims should focus
on who were the lessors, who were the sales people,
what business cards
they presented, what offices they worked out of - how
did the "team"
sucker so many people in, find members of the team who are
not over the next
hill. I saw big companies -
Sun, Cisco, on the documents.
“ How were they involved? Did
they appoint NorVergence people as sales agents?
“ Same with the banks. Locate information placing Norwest and the
banks in
privity so that the
bank cannot be the "ignorant, good faith investor" they
will purport to be
when they come to collect on the lease.”
Best regards,
Dale Washington
California
--------------------------------------------------------------------------------------
|
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www.theleasinglibrary.com |
TAA----Call
All Lawyers! Just 17 Leasing
Companies?
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