Bankruptcy battle erupts in struggle for control of huge Claremont auto dealership. (Claremont Auto Park Inc.)

Los Angeles Business Journal | May 14, 1990| | Copyright

Bankruptcy battle erupts in struggle for control of huge Claremont auto dealership

Insurance agent spent life savings to buy dealership

The bankruptcy of a huge auto park in Claremont is shaping up as a legal struggle for control of the mega-dealerships in what one attorney calls a classic case of a leveraged buyout gone wrong.

The battle began in February when General Electric Capital Corp., which was owed an estimated $21 million by the Claremont Auto Park Inc., forced the auto dealership and its owner, Joseph Wilson, into receivership. General ...

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