NorVergence - Private Suit versus. IFC Credit, Morton Grove, Illinois in bankruptcy court summary judgment motion

Here is the memo in support of a summary judgment motion filed today in an adversary representing a small group of plaintiffs (lead is Diversified Aerospace) with support by amicus from the New Jersey Attorney General Peter C. Harvey. This memorandum argues (1) the close relationship between IFC and NorVergence showing this was not a typical lending situation; (2) alleged violation of federal law based on the Federal Trade Commission default judgment, and supporting cases; and (3) violation of New Jersey Consumer Fraud Act as well as New Jersey law regarding forum selection. The NorVergence trustee is also a defendant.

http://leasingnews.org/PDF/DiversSumJmtMemo.pdf

Leasing News attempted to reach several officers at IFC for a comment, but received none.

Previous stories on this specific subject:

http://www.leasingnews.org/Conscious-Top%20Stories/Novergence_121.htm

(please also see “Letters” in this edition)