Filed in U.S. District Court, D. Minn. today (and to be before Judge Doty and Mag. Judge Graham). From Plaintiff Dennie Hecker’s perspective, it would seem that Defendant Chrysler Financial Services arbitrarily and dramatically changed course in a long-standing commercial relationship, cutting off Hecker’s financial spigot. This, it would seem from Hecker’s complaint, coincided with “a private equity firm named after the three-headed dog that guards the gates of Hades,” (as alleged in the complaint) acquiring a controlling interest in Chrysler. “This ownership and management change by the guardian of hell dramatically altered the relationship between Hecker and Chrysler.”
No doubt Cerberus won’t see the facts quite the same way. Presumably, they’ll counter with a story of rational lawful lending practices to a troubled borrower. Bankruptcy is looking imminent…