Jun 17, 2009 6:48 pm US/Central
Troublesome Timeline For Hecker Automotive Group
(WCCO)
When you hear about the investigation into Denny Hecker, it tends to make you wonder how someone can go from being a prominent businessman to having his homes and business raided in so short a time. So below is a timeline of recent events that have happened to the Hecker Automotive Group.
November 2008: Hecker begins to close dealerships, six at first with more to follow.
Then a series of blows:
Chrysler Financial cut off all credit to Hecker so he sues them.
The lawsuit describes, among other things, that Chrysler tried to interfere in Hecker's attempt to sell Advantage Rent-a-Car, blocked his ability to fill orders for cars and delayed bank negotiations so Hecker ended up bouncing checks to other dealers.
Ford and General Motors sue for millions. Hecker later loses those judgments.
December 2008:
In December,
Hecker's Range Rover swerved from the road and struck a utility pole. He had at least six different prescription drugs in his system according to blood tests.
Hecker is sued by a
Lino Lakes bank that's claiming he defaulted on a $1.1 million loan.
February 2009:
Chrysler Financial sues Hecker. The lender claims Hecker failed to repay almost $550 million he borrowed from his longtime financing partner.
April 2009:
Hecker is
ordered to pay $480 million to Chrysler by early June.
Prosecutors
charged Hecker with misdemeanor counts of driving while intoxicated and careless driving related to the December crash. His lawyer said the wreck was an accident, not related to his prescription drugs.
May 2009:
Another creditor sues Hecker. GELCO and GE Fleet Services filed suit against Hecker and four of his businesses alleging that Hecker defaulted on $7.2 million in car leases that it says he personally guaranteed.
June 2009:
The June deadline to pay Chrysler the $480 million comes and goes. Hecker can't pay and
files for personal bankruptcy protection.
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