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:: Top UK Stories

Administrator appointed over General Capital subsidiaries

Tarun MistryGrant Thornton UK LLP is to act as Administrator over General Capital Finance Ltd, and General Capital Venture Finance Ltd. Tarun Mistry,Head of Leasing & Asset Finance advisory services at Grant Thornton, confirmed the appointment when asked by LeasingWorld. Grant Thornton has one of the largest restructuring & insolvency practices in the UK with almost 700 staff throughout the country. General Capital has been one of the unfortunate casualties of the AIM market, after buying the successful

Norton Folgate brokerage, forays into commercial property and venture capital investments suffered in the credit crisis, when assets had to be written down. The difficult economic conditions led to them selling Norton Folgate for a fraction of what it cost them to buy it, and to delisting from the market.

read more...

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Administrators’ cupboards always bare?:: 02/02/2010

White Clarke Group system installed in record time:: 21/01/2010


:: Europe

BNP Paribas Lease Group to cut hundreds of European jobs?

 

BNP Paribas Lease GroupA French newspaper has reported a story that BNP Paribas is to cut 381 leasing jobs as part of the continued fall-out from its acquisition of Belgium's Fortis Bank, during the credit crunch. The posts are to be shed in France, and across Europe, as BNP Paribas Lease Group and Fortis Lease come together, said the newspaper citing a “good source.”

In early 2009, Fortis shareholders approved BNP's purchase of a 75 percent stake in Fortis Bank. BNP Lease Group France and its divisions employ around 2,500 people worldwide, while 800 work for Fortis Lease, the newspaper said.

As the job cuts are said to be Europe-wide, some jobs may go in the UK, where Fortis Lease had its head office in Glasow, and BNP Paribas Lease Group has its head office in Basingstoke. Apparently in 2008, BNP Paribas in Glasgow hired a culture consultant who prescribed more laughter for its staff in an attempt to jolt them out of the credit crunch blues. Doubtless a great idea then, but may sound a bit odd now.

 

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Changes to lease accounting would hit SMEs:: 05/02/2010

3 Step IT to be the largest independent IT leasing company in Nordic:: 03/02/2010

De Lage Landen partners with Microsoft:: 01/02/2010

Fimasys launches new software:: 01/02/2010

BNP Paribas teams up with Microsoft Financing:: 26/01/2010

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