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March 4, 2013
08:24 EDTWLFCWillis Lease signs 19 engine sale, leaseback deal with Scandanavian Airlines
Willis Lease Finance announced that it has entered into a transaction to purchase and leaseback a total of 19 jet engines with SAS Group subsidiary Scandinavian Airlines. Willis Lease will purchase 11 of the engines and Dublin-based Willis Mitsui & Co Engine Support Limited will purchase the remaining 8 engines. The purchase leaseback transaction is valued at approximately $120M and is scheduled to be completed by the middle of March.
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September 10, 2014
13:47 EDTWLFCWillis Lease settles SEC action on late filings
Willis Lease announced that the U.S. Securities and Exchange Commission has approved the settlement of an administrative proceeding, previously disclosed in the company's Forms 10-K and 10-Q, alleging that in certain instances company executives had failed to timely file reports regarding their stock ownership. The SEC's case was part of a broad sweep against multiple public companies and their executives relating to late filings of such reports. The company has hired a new General Counsel and has taken remedial steps to ensure ongoing compliance with filing deadlines, including the hiring of a new SEC compliance manager. The company will continue to monitor its policies and personnel to ensure ongoing corporate compliance. Without admitting or denying the allegations, the company has agreed to pay a civil penalty of $150K and to cease and desist from future violations of applicable securities law provisions, while officers Charles Willis IV, Bradley Forsyth, and Donald Nunemaker have agreed to pay $75.5K, $25K, and $25,K, respectively.

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