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Ford Credit filed documents in federal court saying, as of this past weekend, the company had not paid debts for unsold inventory, trade payoffs, wholesale charges, loss of sale on vehicle and other expenses.
Ford Credit also filed the counterclaim seeking $1.39 million in unpaid debts along with attorney fees, collection fees and other costs. Its action was filed as part of a lawsuit first filed by Lucas Ford alleging Ford Credit and Ford Motor Co. enticed the company into buying a failing dealership by providing exaggerated projected sales numbers.
Ford Credit denied responsibility for the problems at Lucas Ford.
The counterclaim names Lucas Ford, Sean M. Gouhin and Christopher W. Lucas, two men who were or had been principals in the company. Both men's signatures were on contracts Ford Credit filed with the counterclaim. The counterclaim also seeks judgments against both men for more than $3 million.
Ford Credit said Lucas Ford owed $3.55 million in January and had defaulted on its contract in July, which resulted in Ford Credit suspending credit to Lucas Ford.
Ford Credit audited Lucas Ford last year and found financial troubles, including vehicles that were sold while accounts remained unpaid.
Ford Credit said it gave Lucas Ford until Jan. 12 to bring its account current, invest $500,000 in capitalization and provide proof it was current on all taxes, which it said Lucas Ford failed to do.
On Feb. 2, Lucas Ford representatives met with Ford Credit officials in Lima and entered into a voluntary agreement surrendering possession of cars and other vehicles at the dealership, the action said.
In exchange for the agreement, Ford Credit agreed to not sue Lucas Ford and to not take possession of the vehicles until Feb. 7 so Lucas Ford could attempt to sell the dealership, the action said.
After Lucas Ford failed to contact Ford Credit to update its status, Ford Credit took possession of vehicles at the dealership Feb. 10.
Ford Credit also denied it disclosed confidential information or provided instruction to a prospective buyer. Any statements Ford Credit made were true or statements of opinion, the company said.
Lucas Ford filed the lawsuit in February seeking more than $2 million accusing Ford and its credit company of enticing Lucas Ford into buying a failing dealership. Lucas Ford and its credit company were in jeopardy of losing a lot of money if the dealership closed, the lawsuit said.
Lucas Ford also said the company tried to sell the dealership and had a prospective buyer who backed away after Ford Credit interfered.
Ford Motor Co. has said the dealership is closed for business.
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