Automobile Dealership Lending

Cooksey assists automotive lenders in creating policies and procedures, and in creating complete sets of lending documents for wholesale inventory automotive lending.  When GM Financial entered the market for wholesale inventory lending, it called upon Cooksey to prepare its wholesale lending documents. Since then, Cooksey has prepared complete packages of lending documents for automotive wholesale inventory lenders lending to franchised dealers and non-franchised used automobile dealers.  Cooksey also regularly documents highly sophisticated or unusual lending transactions for lending to automobile dealerships.  

 

Workouts

Cooksey has negotiated and documented hundreds of workouts on behalf of automotive finance companies after borrowing dealerships began to struggle financially or default. Forbearance agreements, recapitalization agreements, or other workout agreements are effective tools for avoiding losses, and are an excellent alternative to litigation.

 

Dealership Litigation

While our preference is to avoid litigation where possible, Cooksey is experienced in dealership iltigation.  Cooksey's approach is to aggressively pursue recovery of your collateral through replevin procedures and to maximize the value of that collateral.  We have successfully prosecuted numerous guarantor lawsuits, resulting in substantial recoveries.  We are also experienced at defending against dealership counterclaims.

 

Dealership Chapter 11's

Cooksey has substantial experience representing automotive finance companies where the borrowing dealership has filed for protection under Chapter 11 of the Bankruptcy Code. Reorganization under Chapter 11 is rarely possible for automobile dealerships so we look to creatively resolve bankruptcy issues.

 

Consumer Litigation

Cooksey is experienced in all phases of consumer litigation arising out of automotive lending, from replevin actions to recover collateral to defense of actions filed by consumers against automotive finance companies.

 

Consumer Bankruptcy

Cooksey regularly represents automotive finance companies in connection with Chapter 7 and Chapter 13 bankruptcies.  Our approach to these consumer bankruptcies produces rapid results and our clients benefit from Cooksey's economies of scale in this area.