Having represented several nationwide floorplan lenders since the founding of Padfield & Stout, LLP, the firm specializes in representing lenders who have floorplan-lending relationships with retail or wholesale automobile dealers throughout the state of Texas. The attorneys at Padfield & Stout, LLP, have a deep working knowledge of the unique issues that arise in floorplan lending legal issues, and the team has the ability to quickly assess and respond to any challenge that may arise from a dealer who defaults on his floorplan, including situations where a dealer sells collateral out of trust, improperly floors collateral from more than one lender, or fails to fully to account for sales proceeds. Specifically, the firm regularly addresses legal issues associated with:
The firm also has substantial experience in litigating through trial priority-of-lien disputes with other secured creditors in the floorplan lender context and has regularly represent clients in state court, federal court, and bankruptcy court on these complex issues. The firm’s long-term involvement in floorplan law has provided its attorneys with the necessary institutional knowledge that enables it to assist clients without lengthy and time-consuming research.
