Akerman Senterfitt
Dealer Fraud Cases Expected to Rise Amidst Bleak Retail Season
Published in Law and Health Weekly, January 3rd, 2009
The economic crisis that swept 2008 has left most retailers hesitating to call this the most wonderful time of the year. With consumer spending down and retail vacancy rates increasing, the retail industry has taken a substantial hit. It's therefore not surprising that as dealers of cars, boats, RV's and large ticket discretionary items feel the effects, more creditors will be negatively impacted as default rates continue to rise.
"We fully anticipate an increase in litigation cases involving dealers defaulting on their loan obligations in this sour retail season," says Jim Foster, Akerman Senterfitt Shareholder and a senior litigation and bankruptcy attorney in the...
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