Nisen & Elliott is representing Santander Consumer USA Inc. in connection with the launch of Chrysler Capital, the new captive finance company for the Chrysler Group. The Automotive Finance Group of Kenneth Rojc, David Gemperle, Andrew Kriz, Colleen Lambrecht, Cara Matesi and Debbie Krusen will be assisting with federal and state law compliance matters, business licensing and the review and development of documentation and servicing for Chrysler Capital’s businesses. The new captive finance company will enable Chrysler and Fiat dealers to provide consumer financing, wholesale floor planning, real estate and commercial loans through Chrysler’s network of 2500 dealers.
February 8, 2012
Nisen & Elliott is representing Volvo Cars of North America, LLC in connection with its launch of a captive finance arm, Volvo Car Financial Services US, LLC (VCFS). The Automotive Finance Group of Kenneth Rojc, William Walker, David Gemperle, Andrew Kriz, Colleen Lambrecht and Cara Matesi will be assisting with all facets of federal and state law compliance matters, business licensing and the review and development of documentation and servicing for VCFS’s retail installment sale and lease businesses. Bank of America will provide the funding and CenterOne Financial Services will provide the servicing for VCFS. The new captive finance company will enable Volvo Cars of North America, LLC to implement a key initiative in their long term growth plan.
December 28, 2010
Nisen & Elliott is representing TD Bank Group in connection with its announced $6.3 billion acquisition of Chrysler Financial from an affiliate of Cerberus Capital Management , L.P. The New York law firm of Simpson Thacher is the lead transaction counsel for TD and Nisen & Elliott is assisting with U.S. automotive finance regulatory matters. Chrysler Financial is an independent financial services company doing business in the United States and Canada, offering retail financing programs in the United States through franchised automotive dealerships of all brands. The acquisition will give TD a platform for asset generation in the North American automotive lending market, enabling it to significantly grow its consumer loan portfolio. Following this transaction, TD expects to be positioned as a top 5 bank-owned auto lender in the North America. The acquisition is expected to close in the second quarter of TD’s 2011 fiscal year, pending regulatory approvals and satisfaction of other customary closing conditions.
The Nisen & Elliott team included Kenneth Rojc, David Gemperle , Karoline Andris, Colleen Lambrecht and Cara Schlismann.