ZEK has extensive experience in floor
plan lending to automotive and marine dealerships. In this regard,
we act as regional counsel for several industry, bank and non-bank
lenders to dealerships for automotive related loans. As part
of this representation, we often are called upon to make real
estate secured loans to the dealerships. These loans in particular
often involve specialized environmental concerns. Our expertise
leads our lender clients through the pitfalls inherent in this
form of lending.
As part of this representation, we are familiar with the workout
and restructuring of floor plan and real estate loans. We are
ever ready to deal with the possibilities of conversion of collateral,
the "out-of-trust" predicament and the necessity for immediate
seizure and injunction orders. Our firm has been involved in
these matters in the New York, New Jersey and Connecticut area.
We are also familiar with the indirect financing of individual
vehicles including issues involving retail installment contracts
and leases and the statutory and regulatory issues involved
in the drafting and enforcement of these documents.