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Hecker's Creditors Include Hotels, Banks, Lawyers

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Jun 10, 2009 9:50 pm US/Central

Hecker's Creditors Include Hotels, Banks, Lawyers

MINNEAPOLIS (AP) ― Fallen auto magnate Denny Hecker has 95 creditors, including auto finance firms, banks, attorneys, and a business partner.

Hecker filed for personal bankruptcy protection last week, saying he owes up to $1 billion to up to 1,000 creditors.

So far, 95 creditors are listed in court documents, including the Bellagio and Mirage hotel-casinos in Las Vegas, the city of Aspen, Colo., Royal Jewelers, and his business attorneys.

The amounts each creditor is owed are not listed.

Hecker's largest creditors are expected to be auto finance companies. The 56-year-old Hecker was one of Minnesota's largest car dealers, but with the economic downturn he has shuttered or sold 25 of his 26 dealerships.

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Hecker started selling used cars on Broadway and Lake streets out of Henry High School in 1970. In business, he was a larger-than-life personality and his face was everywhere -- newspaper ads, bus billboards and TV -- urging customers to visit his dealerships for good service.

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 This material may not be published, broadcast, rewritten, or redistributed.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