ANC Rental Corporation Wins Pivotal Motions in Appellate Court and Approval to Consolidate at Ten More Airports.Business Editors/Legal Writers FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--May 24, 2002 ANC ANC abbr. African National Congress ANC African National Congress: South African political movement instrumental in bringing an end to apartheid ANC n abbr (= Rental Corporation won a pivotal ruling Wednesday, May 22 when the U.S. District Court in Delaware denied a series of requests by Hertz and Avis for emergency stays that would have prevented ANC from consolidating its Alamo Rent A Car Alamo Rent A Car is a car rental agency. It is based in Tulsa, Oklahoma, but has branches across the United States, Canada, Mexico, Central America, South America, parts of Africa, Europe, and Australia as well as some locations on various Caribbean islands. and National Car Rental brands at numerous airports nationwide. ANC had received the go ahead to operate at 27 airports under a single concession agreement Concession Agreement A right granted by a government to a corporation. It specifies rules under which the company can operate locally. Notes: Some concession agreements might include tax breaks for the corporation, in order to keep them from moving to another jurisdiction. approved by the Delaware Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. under a series of rulings dated January 28, March 20, May 3, and May 10, 2002. "Hertz and Avis have failed to demonstrate the necessary irreparable harm," that is required to grant a stay of relief, wrote U.S. District Judge Gregory Sleet sleet, precipitation of small, partially melted grains of ice. As raindrops fall from clouds, they pass through layers of air at different temperatures. If they pass through a layer with a temperature below the freezing point, they turn into sleet. in his ruling. Addressing Hertz and Avis' claim that the advantage gained through consolidation would cause them irreparable harm, the court ruled that, "revenues and customers lost to competition, which can be regained through competition, are not irreparable." The court also found that Hertz and Avis failed to, "make even a prima facie [Latin, On the first appearance.] A fact presumed to be true unless it is disproved. In common parlance the term prima facie is used to describe the apparent nature of something upon initial observation. showing which demonstrates that approval for consolidation would result in a tangible financial or other loss to them." In another court win Wednesday, ANC was granted approval to operate its Alamo and National brands under a single concession agreement at ten additional airports nationwide. The airports approved in Wednesday's ruling include Tampa, Reno, St. Petersburg/Clearwater, Nashville, Grand Rapids, MI., Moline, IL., Eugene, OR., Lubbock TX., and Aspen CO. Also approved in Wednesday's court ruling was the airport in Ft. Walton Beach, FL.; significant because it is the first consolidation to be approved over an airport's objections. "Wednesday's rulings were very significant for us," said Larry Ramaekers, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of ANC Rental Corporation. "The denial for stays thwarted a major strategy for Hertz and Avis, and it was a major win for us. We were particularly pleased with the court's admonition Any formal verbal statement made during a trial by a judge to advise and caution the jury on their duty as jurors, on the admissibility or nonadmissibility of evidence, or on the purpose for which any evidence admitted may be considered by them. that the marketplace is where Hertz and Avis should focus to correct any alleged harm they suffered." ANC Rental Corporation, headquartered in Fort Lauderdale, is one of the world's largest car rental companies with annual revenue of approximately $3.2 billion in 2001. ANC Rental Corporation, the parent company of Alamo and National, has more than 3,000 locations in 69 countries. Its more than 17,000 associates serve customers worldwide with an average daily fleet of more than 275,000 automobiles. |
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