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Former Tyco International Director Frank Walsh Comments on Litigation...

Tyco’s former International Director, Frank Walsh commented on Monday about the litigation filed by Tyco’s board of Directors. He said: I am sorry that the board of directors at Tyco has decided to take this action. This is clearly an...

#acquisition#CIT#financial services

HPSC Inc. Discovers Employee Defalcation Involving Transactions with Factoring...

HPSC Inc. announced today that it has discovered that an employee of the company's asset-backed lending subsidiary, American Commercial Finance…

#AMEX#bank#commercial finance


Tyco Former Executive Being Sued for Receiving US$20 Million...

Tyco has filed a suit against former director Frank Walsh. The company said that the Mr Walsh received an improper…


WCC Services Plan to Acquire all Issued and Outstanding...

WCC intends to acquire all of the issued and outstanding shares of Liquid Capital Corporation, a private, Ontario-based business providing…

#acquisition#i#management


CIT Files Amended Registration Statement for Initial Public Offering

CIT Group Inc. announced that an amended registration statement has been filed with the Securities and Exchange Commission by CIT…


Resource Bank’s Factoring Division Defrauded by Construction Firm

A federal grand jury on Wednesday charged that Michael R. Agnew, president and sole owner of AGM, and Barbara M.…


CIT Sale Delayed as Tyco Experiences Legal Problems

Tyco said the sale of its CIT finance unit could be delayed a week. The company had promised to complete…

#CIT#CIT Commercial Services#international


iBX Group Announces National Strategic Alliance With Sun Capital...

iBX Group, Inc., a publicly held Florida corporation, on Wednesday announced the establishment of a national strategic alliance with Sun…

#capital requirements#financial services#management


Bay View Announces Sale of Factoring Unit

Bay View Capital Corporation announced yesterday the sale of its San Mateo-based factoring business with approximately US$25 million in factoring…


Asta Funding Acquires US$490 Million of Distressed Consumer Receivables

Asta Funding, Inc., a leading consumer receivables asset management and liquidation company, today announced that the company has acquired three…


Tyco to Go Ahead with CIT IPO after Lehman...

Tyco International Ltd will go ahead with an Initial Public Offering of its financial services unit CIT Group after talks…

#bank#CIT#CIT Commercial Services


Lehman Bid for CIT Group and then Withdraw

Lehman Brothers Holdings, an adviser to Tyco International, bid about US$5 billion for Tyco's CIT finance unit but then appeared…

Accord Financial Corp. Announces New Customer Referral Agreement with...

Accord Financial Corp. announced yesterday that its factoring subsidiary Montcap Financial Corp. has entered into a customer referral program with…

#bank#cash management#international

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