(a) To what extent is this type of business 'finance' technique practised in this economy?

Equipment leasing is utilized mostly for small and medium sized businesses for computer systims, construction equipment and the like.

(b) If default is made what are the rights of the owner of the property to recover the leased property?

(b) The owner of the property may terminate the leasing contract and take the possession of the property back from the lessee.

(c) Does the exercise of these rights require court process?

(c) No.

(d) How effective in actual practice is the process of recovery (list any relevant impediments, such as the right of access to the place where the equipment is situated; the right to physically take the equipment away from the place; and so forth)?

Because in some cases the owner may have some difficulty in identifying itself as the real owner of the property, it may suffer from practical problems in the process of recovery.

(e) What effect does the commencement of insolvency proceedings in respect of the corporate debtor have on the recovery of leased property?

In the event of insolvency proceedings, the owner of the leased property can exercise its ownership rights.

(f) Is it usual for an equipment lease to be supported by guarantees (sureties) for payment of lease charges; default penalties; and so forth?

In the case of operating leases, it is not usual that guarantees are provided.