Deutsche Credit Corp. v. Gale Group, Inc.

This is the appeal of a final judgment arising out of a dispute over payments due under a computer equipment lease. Appel-lee, Gale Group, Inc., d/b/a Weathashade Corp. (“Gale”) was the lessee. The original lessor was Commercial Equipment Leasing Corporation (“CELC”), a closely held corporation whose sole shareholder was Ronald Famiamo. CELC was an independent lease broker in the business of arranging equipment financing. Typically, such a broker places the financing of leases with any of several third party lenders. In essence, the lender purchases the stream of payments due under the lease…