North Grounds Holding Co. is the premier provider of special purpose corporations, limited liability companies and partnerships, independent directors, “U.S. citizen” directors for regulated industries, management and administration of securitization programs, cash management and other financial service programs. We provide effective balance sheet management through the use of so-called “orphan” entities and other structures to enhance a company’s return on equity and financial performance, by legitimately and effectively removing low-yielding assets from the balance sheet.
Our de-consolidated subsidiaries have been involved in a variety of different transactions, including:
1. Acting as the sole member and manager of many Delaware limited liability companies formed to enhance bankruptcy-remote status for the financing of newly-delivered aircraft to world-class air carriers;
2. Providing “U.S. citizen” directors and special purpose corporations complying with regulations imposed on the aviation, rail and shipping industries;
3. Providing independent directors to achieve rating agency requirements of “bankruptcy remote” status in securitization transactions for asset-backed securities;
4. Creating “orphan” entities to hold low-yielding defeasance bonds, illiquid assets, real estate and other assets to enhance overall return on equity, while preserving ultimate control on disposition of the relevant asset;
5. Assuming the role of purchaser and borrower in pre-delivery financings for heavy equipment, thereby removing pre-delivery financing indebtedness and purchase contract liability from the user’s balance sheet, particularly where the user ultimately will finance the acquisition of the equipment through a U.S. leveraged lease or other true lease financing;
6. Acting as lessor in synthetic leases; and
7. Providing other various special purpose company and independent management services.
North Grounds Holding Co. goes beyond the conventional role of a service provider to effectively manage tax risk, asset risk and balance sheet risk. Unlike the other service providers with whom we compete, we are normally selected for difficult, cutting-edge products and services where our experience, actively managed special purpose companies and tax-driven arrangements are warranted.