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Ace Motor Acceptance Corp. v. McCoy Motors, LLC

United States District Court, W.D. North Carolina, Charlotte Division

August 16, 2019

ACE MOTOR ACCEPTANCE CORPORATION, Plaintiff,
v.
MCCOY MOTORS, LLC, et al. Defendants.

          ORDER

          Kenneth D. Bell, United States District Judge.

         THIS MATTER is before the Court following the status conference held with all parties on August 15, 2019. During the status conference, counsel for Defendants Robert McCoy, Jr. (“McCoy Jr.”), Misty McCoy (“Misty”), and McCoy Motors, LLC (“McCoy Motors”) (collectively, “McCoy Defendants”) represented to the Court that efforts are underway to bring the McCoy Defendants into compliance with the August 1, 2018 order of the Bankruptcy Court imposing a preliminary injunction and requiring the McCoy Defendants to take the following actions:

(i) stop collecting any payments from Ace Motor Acceptance Corp.'s (“Ace”) customers/Vehicle Buyers with regard to the motor vehicles and Contracts that constitute collateral under the Agreements and otherwise cease taking any actions whatsoever to exercise servicing rights under the Agreements;
(ii) direct all of Ace's customers and the Defendant's customers to make all payments directly to Ace;
(iii) turn over any cash or other monies to Ace, including but not limited to payment received from Ace's customers or third parties that are in any way subject to the terms of the Contracts or Agreements;
(iv) turn over any vehicles to Ace (including those that have been repossessed) that constitute collateral under the Agreements or related to the Contracts (including all motor vehicles in Defendants' inventory), as well as all titles, accounting records, payment records of Vehicle Buyers, or other documentation associated with each vehicle;
(v) cease communicating with Ace's customers and stop interfering with Ace's efforts to collect on its accounts under the Contracts;
(vi) provide copies of all documents, accounting records and bank statements to Debtor, which are relevant to the location, use and disposition of Ace's collateral;
(vii) turn over any refunds for GAP protection premiums paid in connection with the Contracts, which have been received or which are received in the future;
(viii) execute any documents necessary to remove liens of any of the Defendants from any motor vehicles that are related to the Contracts, in order to provide Ace with a first priority lien on such vehicles (or, alternatively, Ace may do so pursuant to its Power of Attorney (PPA, Pages 24-25, Exhibit A);
(ix) cease transferring, dissipating, concealing, moving, secreting or otherwise disposing of any assets of Ace or the Defendants, or assets which are collateral of Ace, including the sale of any motor vehicle in Defendants' inventory or possession, or the transfer of any funds or cash by any of the Defendants, pending further Order of the Court;
(x) turn over all keys to any vehicles which are in their control or possession;
(xi) cease any efforts to repossess any motor vehicles and provide Ace with any information (including access information) concerning any GPS devices on all motor vehicles related to the Contracts and/or in the Defendants' inventory;
(xii) disclose the location of all of Ace's property or collateral of Ace, including all ...

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