Vcorp Provides Independent Director Services AUGUST 4, 2008
Vcorp Provides Independent Director Services
Growing use of SPEs increases demand for services
MONSEY, NY (August 4, 2008) – Vcorp Services LLC, which since 2003 has been a leading provider of state corporate filing services, provides independent directors and managers for Special Purpose Entities (SPEs).
“Many service providers have withdrawn from providing independent directors,” said Vcorp Services Co-Chairman Shai Stern. “At the same time, the demand continues to grow as Special Purpose Entities become more common. Vcorp is pleased to fill this need for our clients.”
SPEs are corporate bodies created to fulfill narrow and often temporary objectives, such as isolating financial risk. Independent directors are required to ensure the SPE’s independence from the sponsoring entity. In the course of financial transactions such as establishing real estate hedge funds on behalf of clients, Vcorp recognized the value of providing one-stop corporate services shopping.
“Our service and technology infrastructure enables us to save time and money for our clients,” said Co-Chairman Seth Farbman, “while our experience and expertise ensure the high quality of the services we provide.”
Co-Chairmen Stern and Farbman also established a New York-based firm that provides financial filing services to over 3,000 public companies, executives and law firms and is now ranked among the top five SEC Edgar filing firms in the nation.
“Vcorp has been providing excellent service to the legal and financial communities for nearly a decade, so the addition of independent director services was natural for us,” said Elizabeth Roz, Executive Vice President for Business Development. “We listen to our clients and provide the services that they need now.”