Documenting Dealer Financing
For more than three decades, Cooksey has provided value to its lender clients by negotiating and documenting complex wholesale financing transactions with heavy and medium duty truck dealers, including inventory financing, working capital financing and revolving lines of credit. Cooksey is experienced in creating procedures for and documenting warehouse credit facilities for truck dealers for use in funding in-house or affiliated lending and leasing companies. We have also negotiated and documented complex upfitting and bodybuilding transactions.
Documenting Fleet Transactions
Cooksey can assist trucking lenders in structuring and documenting large, complex fleet transactions involving multiple layers of leasing or subleasing through leasing companies and ultimately to owner/operators.
Dealer and Fleet Workouts
Cooksey has extensive experience in assisting trucking lenders in negotiating and documenting workouts of defaulted loans to dealers and defaulted fleet financing, and in achieving creative solutions to dealer and fleet issues.
Enforcement
Cooksey also assists on the back end of transactions by enforcing secured lenders’ rights when workouts are either not feasible or fail. 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.
Chapter 11 and Chapter 15 Bankruptcies
Financially troubled truck dealers and fleet operators often file Chapter 11 and even Chapter 15 bankruptcy cases. Cooksey represents lenders in all aspects of the bankruptcy process. Cooksey aggressively asserts the rights of its lender clients with respect to cash collateral and physical collateral. Cooksey obtains adequate protection payments to compensate its clients for a debtor’s use of collateral, and helps its clients obtain relief from the automatic stay, recover collateral, and obtain advantageous plan treatment.