Chrysler Financial wins $477M suit against auto dealer Denny Hecker
Chrysler Financial Services has won a nearly $477 million judgment against beleaguered auto dealer Denny Hecker.
Hennepin County District Judge Marilyn Rosenbaum approved the judgment against Hecker. He still faces other litigation from Chrysler.
In the past few months, Hecker has been sued by entities including Chrysler Financial, Hyundai Motor Financial and Ford Motor for more than $567 million. The suits allege Hecker defaulted on payments for loans and rent.
In a statement, Hecker said the judgment against him in the Chrysler suit was "extremely hard felt and disappointing after several months of ongoing discussions with my long-term business and financial partner."
Hecker's auto empire at one point included 26 dealerships. A spokesman said Hecker has sold off or closed all but five of those stores. The five remaining are up for sale.
Still, the spokesman said Hecker will still be in business a year from now, but it's unclear in what capacity.
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