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Administrator appointed over General Capital subsidiaries
Grant 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.
Broker/funder model goes through major upheaval:: 04/02/2010
Syscap reports leap in IT vendor agreements:: 02/02/2010
HSBC Rail for sale again?:: 02/02/2010
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?
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.
A 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.”
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
:: Vendor & captives
PACCAR Financial profits hit:: 01/02/2010
New Microsoft licencing approach:: 26/01/2010
IBM’s Lending Unit provides Credit in China:: 08/01/2010
GMAC gets more capital:: 07/01/2010
Caterpillar reports big falls:: 07/12/2009
Dell says CIT bankruptcy has “No impact”:: 21/11/2009
:: International
CIT appoints ex-Merril boss:: 08/02/2010
Aircraft sale off again:: 02/02/2010
New CIT interim CEO:: 20/01/2010
Bombardier looks to aircraft lessors:: 20/01/2010
NetSol announces 2010 Expectations:: 12/01/2010
“Hard Slog” towards US recovery in 2010:: 10/01/2010
:: General interest
Gartner Group’s predictions for Banking sector:: 11/01/2010
Server market showing signs of Stabilisation:: 08/12/2009
Does Microsoft Office 2007 actually reduce productivity?:: 03/12/2009
New Lease of Life after the banking crisis:: 23/10/2009
IDC: coping with the New Normal:: 20/10/2009
Banking on burnt fingers– financing used plant and equipment:: 04/10/2009







