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Lino Lakes Bank Sues Hecker, Alleging Loan Default

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Dec 11, 2008 11:11 pm US/Central

Lino Lakes Bank Sues Hecker, Alleging Loan Default

ST. PAUL (AP) ― Prominent auto dealer Denny Hecker is being sued by a Lino Lakes bank that's claiming he defaulted on a $1.1 million loan.

The lawsuit by Community National Bank was filed Thursday in Ramsey County District Court.

The bank alleges Hecker failed to make basic payments and defaulted in the amount of about $161,000. The loan was supposed to be repaid Dec. 1.

Hecker spokesman Jon Austin declined comment.

Hecker's automotive group announced last month that it was closing six local dealerships and selling three others. His Advantage Rent A Car said Monday that it is filing for Chapter 11 and shutting down 21 locations nationally. About 440 employees have gotten layoff notices.

Last week, Hecker suffered non-life-threatening injuries in a one-car accident.

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Hecker was one of Minnesota's largest car dealers and has more than 30 years in the automobile retailing business, but the economic downturn has hit his business hard.


(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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