San Jose Family Law Attorney comments on the bankruptcy and divorce saga of the Advantage Rent-A-Car owner.
When Denny Hecker’s auto empire of 26 automotive dealerships, the Advantage Rent-A-Car chain and other businesses filed for Chapter 7 bankruptcy protection, he never envisioned that it would become a personal issue embroiled in a bitter divorce with his wife Tamitha. But the bankruptcy liquidation of his assets is now tied up in family law court as well as Ms. Hecker.
As the bankruptcy trustee prepares for a public auction of Mr. Hecker’s assets including Rolex watches, a Cartier travel clock and numerous personal jewelry items, Ms. Hecker is questioning how her husband is spending $25,000 per month while unemployed, bankrupt, and contesting her request for $7,500 per month in alimony and child support for her and the couple’s two children.
The December 2008 business bankruptcy filing was prompted by Chrysler Americas LLC and other creditors demanding payment on several hundred million dollars debt. Mr. Hecker filed for personal bankruptcy in June to deal address his more than $760 million in debt. He is the subject of a federal grand jury investigation and state investigations into allegations of forgery, conspiracy, money laundering, and mail, wire and bankruptcy fraud. Some of the allegations state that Mr. Hecker sought to defraud lenders by seeking loans for more than he was entitled to as he desperately sought to keep his business empire from crumbling.
Federal grand jury considering charges against Denny Hecker, Star-Tribune.com, September 18, 2009
Fallen Auto Magnate Faces Grand Jury Probe, Wall Street Journal, September 21, 2009
Bankruptcy Plus Divorce Equals Major Drama, Wall Street Journal, October 13, 2009
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