May 23, 2011 
GE Capital Equipment Finance Buys Loan Assets from Face Finance
GE Capital?s equipment finance business has bought more than $100 million of commercial loan assets from South Canterbury Finance?s plant and equipment finance specialist, Face Finance.
SCF receivers Kerryn Downey and William Black of McGrathNicol said the deal followed a competitive sale process, and represented a milestone in the realization of SCF?s loan book assets.
They said Face had previously operated on a largely standalone basis from the rest of the South Canterbury Finance group, with a separate distribution network and customer relationships.
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