San Jose Bankruptcy Attorney comments on the continuing divorce and bankruptcy travails of Denny Hecker.
The collapse of Denny Hecker’s automotive empire and marriage have been well-documented in the bankruptcy and divorce proceedings that have been underway for months. Hecker has been accused of withholding information from the bankruptcy court and pledging personal financial assets as collateral to the business in spite of an October, 2008 agreement that staved off a divorce filing by his wife Tamitha.
Hecker has not been as forthcoming with information for the creditors and bankruptcy court, and there are allegations that Hecker has submitted forged documents to the court. It is now possible that Hecker could be headed to the nightmare scenario where the bankruptcy trustee recommends that his debts not be discharged but also leaves the court in possession of his assets. This type of recommendation is rare and usually follows a pattern of not disclosing assets or bankruptcy fraud. If the bankruptcy trustee does issue that recommendation, Hecker will still be saddled with $700 million in debt, and will not have control of his assets.
Hecker has been embroiled in an bitter public divorce and child custody battle with his wife Tamitha. The couple recently reached a divorce agreement that does not include spousal support, child support or child custody arrangements. Mrs. Hecker is seeking to have the October, 2008 agreement nullified and is trying to renew her request for $15 million of Hecker’s assets, which was her claim prior to the agreement. Her claim is complicated by her husband’s pledging of personal assets to guarantee business debts.
Stay tuned for a very complicated and bitter legal battle.
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