Car Dealerships

  • Comerica Bank vs GFLIP III et al

    Action No. 39-2012-002802036
    Superior Court, County of San Joaquin - Judge Barbara A. Kronlund
    2012:  Receiver appointed to sell five parcels located in Lodi, California including 880 S. Beckman Road  and 901 E. Vine Street (leased premises), 1251 - 1255 S. Beckman Road (previously a Dodge - Kia dealership), 1045 S. Cherokee Lane (previously a Ford dealership), and 1130 S. Cherokee Lane (previously a used car dealership).  The Receiver engaged a broker specializing in automotive sales.  The 880 S. Beckman property resulted in a settlement for a discounted payoff to the secured creditor while the 1251-1255 S. Beckman Road peoperty sold for $1,500,000, the 1130 S. Cherokee Lane property sold for $325,000, and 1045 S. Cherokee sold for $1,075,000.

  • Citibank, Federal Savings Bank, a Federal Savings Bank vs. Shen Motor Company, et al

    Action No. 409557
    Superior Court, San Mateo County - Judge James H. Ellis
    1999: Manage and operate four car dealerships located in Burlingame and Redwood City, California as follows:
    Shen Motor Company - Infiniti - Redwood City
    Shen Lincoln-Mercury-Mitsubishi - Burlingame
    President Chevrolet-Geo, Inc. - Burlingame
    Extensive accounting and administrative issues.  Sale of two dealerships through negotiations with potential purchasers resulting in $500,000 to Estate.  Auction of remaining assets.  Coordination and closing of pension.