Green & Pagano, LLP Announces

NEW JERSEY CLASS ACTION CERTIFIED IN EXQUISITE CATERERS ET AL. V. POPULAR LEASING ET AL.

Milltown, New Jersey Sep 14, 2005 MOTION FOR NEW JERSEY CLASS CERTIFICATION GRANTED Today, September 14, 2005, in the New Jersey Superior Court, Monmouth County, in Exquisite Caterers et al. v. Popular Leasing et al., Docket No.: MON – L- 3686-04, the Honorable Robert A. Coogan, J.S.C. certified a New Jersey statewide class of consumers who signed contracts with Norvergence, Inc. for telecommunications equipment. Norvergence filed for bankruptcy in July of 2004 in a federal court in Newark, New Jersey. The defendants in the class action are leasing companies that are seeking to enforce Norvergence contracts assigned to them by Norvergence. There were approximately 11,000 former Norvergence customers nationwide and roughly 1450 of them were in New Jersey.

On the original hearing of Plaintiffs’ Motion for Class Certification on June 16, 2005, Judge Coogan denied Plaintiffs’ Motion for Class Certification for a nationwide class based on issues of predominance as to issues of choice of law, and denied a New Jersey statewide class based on numerosity.

Today, Judge Coogan heard arguments from Counsel on Plaintiffs’ Motion for Reconsideration of their Motion for Class Certification as to a New Jersey class only. After approximately two hours of argument, Judge Coogan certified a New Jersey class as to the twenty-two defendants in the case. Plaintiffs’ Counsel Gary Graifman of Kantrowitz, Goldhamer and Graifman with offices in Montvale, New Jersey and Chestnut Ridge, New York, and Michael S. Green of Green & Pagano, LLP with offices in Milltown and Florham Park, New Jersey represented plaintiffs.

Included among the twenty-two defendants are some of the largest leasing companies in the world, they include: CIT Technology Financing Services, Inc., Lyon Financial Services, Inc. d/b/a U.S. Bancorp Business Equipment Finance Group, Popular Leasing USA, Inc., De Lage Landen Financial Services, Inc., and Irwin Business Finance. Other defendants include IFC Credit Corporation, Dolphin Capital Corporation, BB&T Leasing, and Commerce Commercial Leasing. Others include, Preferred Capital, and Information Leasing Corp., Court Square Leasing, Sterling National Bank, Alfa Financial Capital d/b/a/ OFC Capital, Studebaker Worthington Leasing, LLC, Inc., Celtic Bank Corporation, Interchange Financial Services Corp., TCF Express Leasing, Inc., Susquehanna Patriot Commerical Leasing Company, Inc. a/k/a Patriot Commercial Leasing, FirstLease, Inc., and Crown Bank Leasing.

Other Norvergence class actions against some of the above defendants are proceeding in Texas, California, Illinois and New York.

Class Counsel will advise class members of continued developments.