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...
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