Element Financial, Toronto, Canada (12/12) to Acquire Nexcap for $20 Million

Balboa Capital, Irvine, California (12/12) Bulletin Board Complaint

Tristar Capital, Santa Ana, California (12/12) No longer in business, although it is reportedly winding down its portfolio and collecting residuals.

Radiance Capital, Fife, Washington (12/12) Bulletin Board Complaint---Up-Date



Integrity Financial Groups, Murray, Utah (11/12) Bulletin Board Complaint

Newport Financial Partners, Newport Beach, California (11/12) Bulletin Board Complaint

IFC Credit Trustee, Northfield, Illinois (11/12)
Bulletin Board Complaint

On Deck, New York, New York (11/12) reaches $300 Million Delivered to Main Street with the help of 1500 distribution partners

Colford Capital, Norfolk, Conn.(11/12) Acquires Equilease Financial Services to Create North Mill Equipment Finance

Hitachi Capital America Corp/, Norwalk, Conn.(11/12) acquires the assets and operations of Michigan-based Hennessey Capital LLC. http://leasingnews.org/archives/Nov2012/11_02.htm#hitachi



Radiance Capital, Tacoma, WA (10/12) New Bulletin Board complaint regarding purchase option at end of EFA http://leasingnews.org/archives/Oct2012/10_31.htm#bbc

East West Bank, Pasadena, CA (10/12) to cut back Healthcare Leases/Loans, Paul Appel no longer at bank: http://leasingnews.org/archives/Oct2012/10_29.htm#eastwest

Evergreen Leasing, South Elgin, Illinois (10/12)John Blazek, CLP, closes door. He was on the board of directors of the United Association of Equipment Leasing, very active, until his company Stratford Leasing filed bankruptcy in 2000. He then became a principal and vice-president of Metrolease involving alleged "double funding" between LaSalle Bank and Textron, who at the time left to start Evergreen Leasing.

Truck Lenders Group/TruckLendersUSA, Oyster Bay, New York (10/12) Bulletin Board Complaint:

(CapNet) Capital Network Leasing Corporation, Los Angeles, CA (1012) no longer in business. In 2007 the company "was recently ranked #5 on the List of Best Places to Work in LA by the Los Angeles Business Journal.



Marlin Leasing, Mount Laurel, New Jersey (09/12) Stock on the rise moving from 52 week low of $9.76 to $20.90' top performer.

IFC Credit, Morton Grove, Illinois (09/12) New Bulletin Board Complaint re: $1.00 out and Evergreen Clause from Commerce National Bank
(09/12 Another Bulletin Board Complaint http://leasingnews.org/archives/Sep2012/9_14.htm#bbc

Mazuma Capital Corp., Draper, Utah (09/12) Mazuma and Republic Bank Get Snared on PRR Provision in Equipment Lease http://leasingnews.org/archives/Sep2012/9_07.htm#mazuma

Republic Bank, Bountiful, Utah (09/12) Why out of leasing/in liquidation
(09/12) In Orderly liquidation. http://leasingnews.org/archives/Sep2012/9_05.htm#republic

First Merit, Akron, Ohio (09/12) To acquire Citizens Republic Bancorp Inc. (Nasdaq: CRBC) of Flint, Mich., in a stock transaction valued at $912 million. In the joint announcement the companies stated the transaction "...creates a unique, contiguous Midwest banking franchise, expanding FirstMerit's footprint into Michigan and Wisconsin, as well as strengthening its presence in Northeast Ohio.”



Element Financial, Toronto, Canada (08/12) Bradley Nullmeyer back with Steve Hudson team.

Radiance-Capital, Tacoma, WA (08/12) New complaint on Purchase Option on EFA, Won’t Return $5,000 S.D. http://leasingnews.org/archives/Aug2012/8_13.htm#bbc

Marlin Leasing, Mount Laurel, New Jersey (08/12) 1st Time Net Income Exceeds Evergreen Income

Integrity Financial Groups, Murray, Utah (08/12) Doesn't return advance rentals, new complaint:

Mazuma Capital Corp, Draper, Utah (08/12) Utilizes Evergreen PPR clauses

Onset Financial, South Jordan, Utah (08/12) Utilizes Evergreen PPR clauses

Marquette Equipment Finance, Midvale, Utah (08/12) Utilizes Evergreen PPR clauses


Cole Taylor Bank Equipment Leasing, Townson, Maryland (07/12) Edward A. Dahlka, Jr., former president of LaSalle National Leasing Corporation (sold to Bank of America 2007 ), as well as past president of the Equipment Leasing and Finance Association (2002-2003) and Equipment Leasing and Finance Foundation (2010 -2011), and team from LaSalle to head new bank division.

Republic Bank, Bountiful, Utah (07/12) According to several reliable sources, Republic Bank, Bountiful, Utah stopped taking new leasing business two weeks ago.

Integrity Financial Groups, Murray, Utah (08/12) Doesn't return advance rentals, http://leasingnews.org/archives/Jul2012/7_09.htm#bbc


Ladco Financial Group dba Ladco Leasing, Thousand Oaks, California (06/12) $418,601 in civil penalties, restitution, and cost recovery; also requires that Ladco and Elavon cancel leases, release liens, terminate collection efforts, and provide updated status reports to credit-reporting agencies, for more than 100 impacted lessees. (violated California laws prohibiting unfair competition and misleading advertising; misrepresented the leases as being cancellable and lied about the cost of buying the equipment at the end of the lease, the court found. Clients were also misled about the length of the leases and were tricked into thinking their existing credit-card devices were obsolete.)

Capital One Commercial Leasing, McLean, Virginia (06/12) Dan McKew, former President of SunTrust Leasing, appointed President, Capital One Commercial Lending.

Positron, Westmont, Illinois (06/12) Mfg., also lessor, not going ahead on leases and also returning advance deposits. http://leasingnews.org/archives/Jun2012/6_13.htm#positron

New Leaf Funding Corporation, Maitland, Florida (06/12) Bulletin Board Complaint, not returning $10,000 deposit. http://leasingnews.org/archives/Jun2012/6_06.htm#complaint



Liberty Capital, Aliso Viejo, CA (05/12) Bulletin Board Complaint

Element Financial, Toronto, Canada (05/12) Acquires the vehicle fleet business from Scotiabank for $146.7 million, plus debt, and he receives a report $430 million of lease assets. Goes back to the market for more cash.

Chase Industries Grand Rapids, Michigan (05/12) Founder files BK, says Chase Industries is dissolved.

Newport Financial Partners, Inc., Newport Beach, CA (05/12) Bulletin Board Complaint.

Marlin Leasing, Mount Laurel, NJ (05/12) Three months again shows Evergreen is their net profit maker.

LEAF Financial/Commercial, New Jersey (05/12) Resource America/LEAF moving in different directions.



Northern Leasing Systems, New York City (04/12) New York AG sues for $10 million. Company previously won $180 million similar suit. lawsuit alleging the company siphoned more than $10 million in unauthorized debits from the bank accounts of more than 100,000 former customers, as well as extended leases beyond their original termination date in many states (Evergreen clauses are illegal in New York). Company denies charges:

Five Point Capital, San Diego, CA (04/12) David Gilbert buys out his "partner," Greg Wells/Tamara McCourt, CLP, Michael Losey, Jason Norton released. Gilbert becomes CEO. http://leasingnews.org/archives/Apr2012/4_18.htm#five_point

Marlin Leasing, Mount Laurel, NJ (04/12) Bulletin Board Complaint

Signature Bank Leasing, New York City (04/12) makes it official, press release on leasing division to be headed by Walter Rabin, and other former Capital One executives. http://leasingnews.org/archives/Apr2012/4_04.htm#release

Heritage Pacific Leasing, Fresno, CA (04/12) May 9th is day to seek judgment for $163,720,000 against the officers of HL Leasing, Inc., Manufacturers Acceptance Corporation dba Heritage Pacific Leasing, Air Fred, along with officers Andy Fernandez, Dan Ramírez and Kathleen Otto.

IFC Credit, Morton Grove, Illinois (04/12) The main bankruptcy case had a trial date set for 3/28/2013, but it was continued until 4/20/2013 with discovery cutoff September 1, 2012. Other related cases continue.



Bulldog Truck & Equipment Sales, Cumming, Georgia (03/12) Tennessee Commerce Bank fails, lines with BullDog closed, assts and debt involved in FDIC settlement.

Proviso Financial Services, Coquitlam, British Columbia (03/12) Bulletin Board Complaint about $2,200 not paid to broker. Also owns Litehaus.

Westover Financial, Santa Ana, Calif. (03/12) Lanak & Hanna $859,409.50 court case against Westover Capital Corp., Joe Woodley, CLP, and others, in the dissolving of Westover Financial Inc., and creation of Westover Capital, Inc. allegedly from its assets, it appears the plaintiff hands are tied. Joe Woodley has stated that he is not an employee, officer, or involved in the direction of the company. Joe Woodley says he is retired, never appears in court to testify about the alleged assets taken by Westover Capital. Jaime Haver says she is the one who founded the company and is running it.

Heritage Pacific Leasing , Fresno , CA (HL Leasing) (03/12) The judgment is against Heritage Leasing, MAC dba Heritage Leasing, Kathleen Otto and Air Fred for $114.5 million, plus $46.5 million against both Dan Ramirez and Andy Fernandez; $720,000 on top of that against Dan Ramirez. Attorneys will attempt to collect starting May 6th as collection date.

Marquette Equipment Finance/Pacific Western Equipment Finance, Midvale, Utah (03/12) Changes name to Pacific Western Equipment Finance.




Westover Financial/Santa Ana/Westover Capital, Tustin, CA (02/12) Accused of Multiple Grand Thefts, over $1 million and FBI may be interested as well as local district attorney.

U.S. Energy Capital, Greensboro, GA (02/12) Jim Borland reacquires company, back to work at age 70.

Balboa Capital, Irvine, CA (02/12) Mass Fax Class Action Case; company can’t seem to stay out of trouble.

LEAF Financial, Philadelphia, PA (02/12) Employee tells all

Mount Pleasant Capital Corp. Warrendale, PA (02/12) Launches Major Franchise Lending Program; look out competition!



Key Equipment Finance/American Express/Sierra Cities/Rockford (01/12) Key Products Grow except Leasing

U.S. Bank Manifest Funding Services, Marshall, Minn. (01/12) U.S. Bancorp Loan Products Up, but Not Lease Financing; http://leasingnews.org/archives/Jan2012/1_19.htm#bancorp

HL Leasing, Fresno, CA (01/12) Kathleen Otto Found Liable for $114.5 Million Ponzi Scheme

Puget Sound Leasing/First Sound Bank, Bellevue/Seattle, WA (01/12) Court case settled; both bank and leasing company survive under new chairman who has excellent reputation.

Marquette Equipment Finance, Midvale, Utah (01/12) Acquired by PacWest Bancorp, to change name to Pacific Western Leasing. The New bank gives a lot of abilities to expand in the marketplace.


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