Boat Dealers Say GE Suit A Bid To Sink Business

Law360, New York (September 4, 2009, 4:30 PM EDT) -- Two New Jersey-based powerboat dealerships have fired back against their floor-plan financier, GE Commercial Distribution Finance Corp., claiming that GE's attempts to declare them in default of a $14.9 million loan amounts to nothing more than a bad faith attempt to liquidate their businesses.

In counterclaims filed Thursday, Trenton Marine Performance Group Inc. and Fountain Powerboats of New Jersey LLC, which operate as the Trenton Marine Center, a waterfront facility and marina on the Delaware River in New Jersey, argue that GE's actions have long been...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.