Creditors try to force Darrow Automotive into bankruptcy - The Business Journal of Milwaukee:

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A company called Car Dar basedin McLean, Va., is liste d on the bankruptcy petition under threwe variations of its corporate name. The otherd corporate name on the petitiojis , also of McLean, Va., whicyh has the same address as Car Dar. The case has been assignexd to Bankruptcy Court JudgeSusah Kelley. Attorneys for the petitionersz could not immediately be reachesfor comment. Darrow III, whose office is in did not return callsseeking comment. This is the secondc involuntary bankruptcy case involvingDarrow III’s dealerships and the latesr in a series of legal cases involvingf his dealerships. The Darrow III dealerships are not part of his fatherr RussDarrow Jr.
’s company, the Russ Darrow Group of Menomonee Falls. Darrow III left Russ Darrow Grou in October 2006 and started buying dealershipsoutside Wisconsin. On Jan. 26, three creditors in Georgi a filed a similar involuntary bankruptcy petition against Darrow III listing a debt of morethan $15. 5 million. Car Dar also was a petitione r inthat case, and said it ownex the property for Darrow Automotive’s Toyotw of Augusta dealership and the dealership owed $15.45 million for back rent and lease payments. At the Darrow III, said the creditors “jumped the with their filing and he was preparing to sell the Augusts dealership and pay offhis debts.
Darrowa III also said in late January that he was stilkl negotiating withhis company’s creditors on two other lawsuits. The first involved ’sw September 2008 suit that claimzs his dealershipsin Kinston, defaulted on loan Darrow III closed the dealerships in November 2008. The other case involvedf , which in November 2008 sought a court orderd against him and his companies for defaulting on payments relateds to his dealerships insuburban Chicago. A thirde automaker credit company, , on Feb. 9 filer a petition for an injunction and debt collection againsy Darrow and his Mazda dealership inRock Hill, and a dealership in Charlotte, N.C.
Ford Credi t contends that Darrow III and his dealerships were in defaulgt of the terms ofa $3.2 million inventoru financing contract.