Judge approves Hecker bankruptcy dealby Martin Moylan, Minnesota Public Radio
St. Paul, Minn. — A bankruptcy judge approved a deal Wednesday in which former auto mogul Denny Hecker agreed to accept personal responsibility for $767 million in debts.
That means Hecker will go through bankruptcy but won't get the debts forgiven.
Matthew Burton is an attorney representing the trustee in Hecker's bankruptcy who pushed for keeping Hecker on the hook. He says the trustee had a strong case showing Hecker was hiding wealth.
"There was a lawsuit commenced by the trustee against Mr. Hecker, alleging he should be denied his discharge," Burton said.
Hecker has also been accused of concealing cash and other assets in two divorce cases and a federal criminal case.
At the bankruptcy hearing, the judge also approved a settlement between the bankruptcy trustee and Hecker's fourth divorced wife, Tamitha Hecker.
She will get to keep about $185,000 in cash and jewelry valued at more than $1 million. The deal likely settles litigation between her and the trustee.