Nesen Family Discloses Settlement of Lawsuits

Former U.S. Ambassador Robert D. Nesen has settled millions of dollars in lawsuits involving his son and the family’s failed luxury car business.

Lawyers for Nesen and his youngest son, Gary, announced the December out-of-court settlements this week but declined to disclose financial terms.

Nesen, 80, served as ambassador to Australia during the Reagan presidency.

His debt-ridden Nesen Motor Car Co. was sold in November 1996. The next year, Gary Nesen, who was the company’s president and chairman, sued his father and others for $10 million. He claimed that they conspired to conceal company debts.

The suit followed a $2-million suit filed the same day by the Thousand Oaks dealership that claimed Gary Nesen ran up lavish debts at company expense.

Formed in 1987 as a successor to a handful of family-owned dealerships, Nesen Motor Car Co. boasted annual sales of about $200 million and employed about 200 people in the early 1990s before hitting financial problems.