CapitalWerks Alabama Jury $9 Million Award Tossed Out
from Jim Raeder, president, CapitalWerks

” I wanted to update Leasing News on the recent developments of our post judgment motions as it pertains to the Alabama case against CapitalWerks.

“ The Judge presiding over the case after listening to all the motions and reviewing the manuscripts of the trial believes the award was unjust and granted our motion to remove the judgment, and set a new trial date for next year.  Our legal team assembled by Barry Marks at Baker, Donelson, Bearman, Caldwell, & Berkowitz in Birmingham was successful in overturning the judgment earlier awarded by the Alabama jury.  

“Kit,   to your readers that believe they have adequate general business insurance coverage; they should review their policies to specifically include wrongful claims against advertising and marketing of their products and services.  We believed we had complete coverage from The Hartford, as they found every way possible not to defend or indemnify us in the action. 

“To my competitors that told our customers we were going out of business, sorry to disappoint you, but your efforts have only inspired our sales force to work harder and solidify more vendor programs.  

Thank you to all of our underwriters for standing by us during this difficult challenge we've overcome, and helping us exceed your expectation of a highly profitable and low maintenance portfolio.  The support from leasing associations ELA, UAEL, and NAELB was also a plus in overturning the recent decision.  

“And to our customers and vendors that continue to believe in the value we bring to your business, thank you for your vote of confidence as we provide fast and efficient access to funding for your business.   We appreciate your support as we strive to meet your finance needs in this highly competitive environment. “

“We will keep you informed on any future developments on this issue, and are open for questions from your readers on how to avoid such marketing and advertising pitfalls themselves.”

JRaeder@preferredlease.com

The original story may be found here:

http://www.leasingnews.org/Conscious-Top%20Stories/
CapitalWerks_Judgement.htm

For the record, any complaints that Leasing News has received concerning CapitalWerks or Preferred Leasing to date has been either settled, resolved, or satisfied, and mostly all three. This is an aggressive company with many new sales people. Both Jim Raeder and Mark McQuitty stand behind any lease they present to a creditor or funder. Editor