We have had encouraging results lately in settling cases where Nextgear Capital Corporation sued our clients. Nextgear filed summary judgment motions in over 40 of our cases in October and November 2019, and since that time we have been systematically trying to resolve these cases, and we’ve gotten through most of them. Quite frankly in more than one case that I thought our client would have no choice but bankruptcy we were able to work out a deal.
Of course, not every case can be settled, and not every case should be settled. We really do try to get to a win-win solution though. Part of the credit for completing the recent rash of settlements, quite frankly, needs to go to Nextgear’s litigation team. They have shown flexibility in customizing deals to the situations our individual dealers find themselves in. If they had taken a hard line in these cases, I think 90% of our clients would have had no choice but bankruptcy or an adverse judgment.
The bottom line is that if you are sued by Nextgear or another floorplan lender in Indiana, even if you think your situation is hopeless, give us a call at 317-662-4529.