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Old 07-12-2016, 04:17 PM   #6
XDCX
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Join Date: Nov 2007
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Quote:
Originally Posted by ohiobuckeyes View Post
Well now we have a twist which has not been reported. Looks like the dealership was in the mist of a buy/sell with another dealership.

Here is the link to the story. Link
Thanks for updating the thread - I agree that's an interesting twist.


Quote:
Originally Posted by DealerEx View Post
From that article it sounds like the bank holding the notes on Elliot were pushing him to negotiate with the second dealer group from out of town rather than the local dealer. Maybe the local dealer has had a conflict with the local bank in the past and they didn't want him having all the stores in town.
I agree 100%.

It would be interesting to know more about the relationship M&T Bank had with the two different buyers who were negotiating with the seller. Clearly M&T Bank would be looking out for their own best interest but it's unclear to me exactly what their agenda may have been. (In fairness, it's possible M&T Bank didn't have an agenda and despite the allegations they didn't exert any influence concerning the subject buy/sell.)

Concerning the lawsuit, I'm no attorney but I'm guessing that the seller of the two dealerships might be somewhat "judgement proof" and I'm not sure if the remaining parties that have "deep pockets" would ever be found to be liable.

I do feel for the first buyer who lost his deal - it will be interesting to see if the lawsuit ever makes it to the court house.
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