Salted with Sharks

First Hearing Set for Platte Valley Auto Sales Case

In Uncategorized on September 10, 2012 at 1:13 pm

By Emily Votruba and Bob Kenison

Judge James Batzer will hold the first hearing in the Platte Valley Auto Sales fraud case (no. 9498) Tuesday, September 11, at 3 pm at the Benzie County Court House.

In the motion, filed August 30 and obtained by the Alert this morning, September 10, the plaintiff is   Honor Bank, and the defendants listed are Platte Valley Auto Sales, Inc.; Platte Valley Enterprises, LLC; Platte Valley Automotive, Inc.; David A. Purchase; Rhonda M. Purchase; Barry N. Wolpoff; and Dealer Services Corporation, “an Indiana foreign corporation.” The plaintiff’s attorney is John M. Grogan of Traverse City.

Honor Bank is seeking a court order to repossess property used as collateral in loans it made to Platte Valley Auto Sales, to prevent that property being damaged or otherwise compromised before final judgement in the case.

The property includes all assets listed in security agreements dating from April 2001, May 2003, and January 2012, such as “floor planned vehicles, equipment, accounts, instruments, documents, title papers and other rights to payment and general intangibles,” according to the hearing motion.

Honor Bank is accusing Platte Valley Auto Sales of “double floor planning” at least 47 vehicles.

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