Auto Dealer Slams Nissan With $250M Contract Suit

Law360, New York (January 5, 2010, 4:58 PM EST) -- Superior Automotive Group LLC has filed a $250 million breach of contract and fraud suit against Nissan Motor Co. Ltd. and its lending arm, accusing the Japan-based auto giant of promising financial support to a group of California dealerships and then pulling the plug when the global recession hit.

The complaint, lodged Monday in the Los Angeles County Superior Court, seeks damages against the automaker in excess of $250 million and says an exact figure can be proven at trial.

“What occurred here is a tragedy,”...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.