Watkins Ludlam Winter & Stennis, P.A.

The automotive industry is, by any estimation, reeling from the current economic downturn. Many automobile dealerships across the country have ceased operations, and possible bankruptcy filings by one or more domestic automobile manufacturers may precipitate even more dealership closings in the near future.

The Bankruptcy and Creditors’ Rights Group of Watkins Ludlam Winter & Stennis, P.A. has broad experience in representing franchisors and floorplan lenders in automobile dealership workouts and bankruptcy proceedings, as well as in state and federal collection proceedings. Representative engagements include the following:

• Representation of automobile manufacturer/franchisor in Chapter 7 contested matter involving dealership franchise;

• Representation of automobile manufacturer/franchisor in liquidating Chapter 11 proceeding;

• Representation of state-chartered bank as automobile floorplan lender in Chapter 7 proceeding, subsequent liquidation of inventory and non-dischargeability action against dealership principal;

• Representation of regional bank as floorplan lender in sale of dealership assets in which substantially all of bank’s claim was recovered;

• Representation of regional bank as floorplan lender in sale of dealership involving sales out of trust exceeding $2,000,000 – substantially all of bank’s claim was recovered;

• Representation of national floorplan lender in $4.5 million state court replevin action and subsequent sale of dealership assets;

• Representation of regional bank as floorplan lender in liquidating multi-state dealership inventory; and

• Representation of national floorplan lender in workout agreement involving sales out of trust and in subsequent federal district court replevin action and resulting Chapter 11 filing.

The three attorneys in the Bankruptcy and Creditors’ Rights Group, with over 50 years of combined experience in creditors’ rights and bankruptcy matters, are     supported by 2 legal assistants and 2 administrative assistants. In addition to the Bankruptcy and Creditors Rights Group, the Firm has experienced corporate, real estate and commercial finance attorneys to assist in a wide range of commercial matters involving failed or failing automobile dealerships.