OTHER NEWS - Oct. 9, 1991
From Times Staff and Wire Reports
Talks Continue on Proposed Sale of Slemons Imports: Officials at Jim Slemons Imports said Tuesday that negotiations were continuing as creditors of the bankrupt Mercedes Benz dealership attempt to resolve an impasse that has blocked the proposed sale of the operation. The talks center on unsecured creditors attempts to obtain repayment of some of the approximately $1.5 million they are owed. Citing the unsecured creditors’ claims, a federal bankruptcy court judge in Santa Ana last week rejected a proposed $11.5 million acquisition of the Slemons franchise and most of its assets by the Las Vegas-based Fletcher Jones Management Group.
