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Another Creditor Sues Auto Dealer Denny Hecker

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May 13, 2009 10:43 pm US/Central

Another Creditor Sues Auto Dealer Denny Hecker

MINNEAPOLIS (AP) ― Another creditor is suing what's left of Denny Hecker and his auto empire.

GELCO and GE Fleet Services filed suit against Hecker and four of his businesses in federal court Wednesday. It alleges that Hecker defaulted on $7.2 million in car leases that it says he personally guaranteed.

The filing comes about two weeks after Chrysler won a $477 million default judgment against Hecker, and a week after Ford won a $3.15 million award. Last month, Hyundai Motor Financial sued Hecker, alleging he defaulted on the $104 million he used to acquire 4,500 rental vehicles.

Hecker used to be one of Minnesota's largest auto dealers, claiming $6.8 billion worth of auto sales and service. But he's shut or sold off 25 of his 26 dealerships, and sold off his Advantage Rent-A-Car business.

 

Information from: Star Tribune



 

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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 This material may not be published, broadcast, rewritten, or redistributed.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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