origination
Park Motor
Finance is closed to new business as of August 26, and Dr
Roger
Gewolb, former CEO of Park, has left the company, it was
announced.
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The decision to stop lending was taken “in light of the
continued poor conditions in the credit markets and uncertain
economic times”, said Maureen Coen, head of European conduit
finance at Credit
Suisse, which provided backing for the non-prime motor finance
specialist.
Brokers which included Park Motor Finance on their funding panel
have been told that Park will no longer take on new motor finance
contracts.
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