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was a wholly owned subsidiary of Norwest Bank Minnesota, N.A.
(NBM), which in turn was a wholly owned subsidiary of Norwest.
NEFI was actively involved in leasing transactions involving
“middle market” equipment (i.e., equipment having a market value
between $25,000 and $2 million). NEFI was also involved, albeit to
a lesser extent, in leasing transactions involving higher end
equipment.
Within the Norwest group, sale-leasebacks were usually taken
in the name of NEFI’s parent, NBM. James Renner was president of
NEFI. Phyllis Grossman was vice president of sale-leaseback
transactions for NEFI. She was primarily responsible for reviewing
the structure of, and overseeing the completion of, all proposed
sale-leaseback transactions.
NEFI employed the law firm of Faegre & Benson (and used the
services of David Beadie and John Steffen) to render legal advice
with respect to the sale-leaseback transaction involved herein.
II. Comdisco and CIG
Comdisco, Inc. (Comdisco), is a Delaware corporation with its
principal place of business in Rosemont, Illinois. Comdisco is a
publicly held corporation whose stock is traded on the New York
Stock Exchange. Comdisco is a lessor, dealer, and remarketer of
computer equipment. In 1993, it was the largest independent
computer leasing company in the United States.
Comdisco purchases computers primarily through debt financing.
After entering into a lease with a customer (existing lease),
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Last modified: May 25, 2011