Death of a (Used Car) Salesman: An Examination of the Incredible Auto Sales, LLC Bankruptcy

Authors

Alicia Teubert
Melissa Carraso

Document Type

Article

Publication Date

Spring 2010

Abstract

At first glance, the Incredible Auto Sales, LLC (“Incredible Auto”) Chapter 11 bankruptcy appeared fairly standard. A once prospering business found itself in the red trying to keep its inventory stocked, pay its bills, and remain a going concern. On paper, the prospects of reorganization seemed promising. It had nearly $2 million worth of inventory. It had nearly $200,000 worth of machinery, fixtures, parts, and supplies. Plus, there was a market for its product because Incredible Auto was the only Kia MotorsAmerica (“KIA”) dealership in a 250-300 mile radius. However, the Incredible Auto on paper was not the same Incredible Auto that the creditors, the U.S. Trustee, and the court found under the microscope of the Chapter 11 proceedings.

Recommended Citation

Teubert, Alicia and Carraso, Melissa, "Death of a (Used Car) Salesman: An Examination of the Incredible Auto Sales, LLC Bankruptcy" (2010). Chapter 11 Bankruptcy Case Studies. 2.
https://ir.law.utk.edu/utk_studlawbankruptcy/2