LAWSUITS NEWS & LEGAL INFORMATION
Family Feud
Detroit, MI: (Mar-12-08) The founder and former owner of Jerome-Duncan Ford, Richard Duncan, brought a lawsuit against his own daughter, Gail Duncan, a majority holder in the dealership since 1993, alleging that she was responsible for the eventual collapse of the company.
Sources stated that Jerome-Duncan Ford was one of the most successful Ford dealers in the nation, but it was forced into Chapter 11 bankruptcy in 2005 when it defaulted on a loan from Ford Motor Credit. Court records reveal that a jury in the case found that while running the dealership, Gail Duncan violated a non-compete agreement by purchasing two Mazda dealerships and a Hyundai/Kia outlet. She was also accused of committing shareholder oppression and of failing to pay her father for the stock transfer that gave her control of the company.
As part of a settlement reached in the family feud, sources stated that Richard Duncan, the founder and former owner of Jerome-Duncan Ford outside Detroit, has won a $4 million damages settlement in civil court. [MOTOR TREND: A FAMILY AFFAIR]
Published on Mar-13-08
Sources stated that Jerome-Duncan Ford was one of the most successful Ford dealers in the nation, but it was forced into Chapter 11 bankruptcy in 2005 when it defaulted on a loan from Ford Motor Credit. Court records reveal that a jury in the case found that while running the dealership, Gail Duncan violated a non-compete agreement by purchasing two Mazda dealerships and a Hyundai/Kia outlet. She was also accused of committing shareholder oppression and of failing to pay her father for the stock transfer that gave her control of the company.
As part of a settlement reached in the family feud, sources stated that Richard Duncan, the founder and former owner of Jerome-Duncan Ford outside Detroit, has won a $4 million damages settlement in civil court. [
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