EXCELL Auto Team Files FOR Individual bankruptcy, OWES $10M-$50M

Boca Raton Showroom Empty. Chapter 7 Filing Arrives As Lawsuit Promises Dealership Engaged In Fraud.

The Excell Car Team Showroom at 1001 Clint Moore Street in Boca Raton remains vacant. (BocaNewsNow.com).

BY: ANDREW COLTON | Editor and Publisher

BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2022 MetroDesk Media, LLC) — Excell Vehicle Group has officially submitted for Chapter 7 Individual bankruptcy defense, saying that it has between $ and $50,000 in property but owes in between $10M and $50M to collectors.

The Excell Automobile Team showroom at 1001 Clint Moore Street in Boca Raton, usually comprehensive of higher-stop and unique automobiles, remains empty. That led clients, beginning early final week, to ask concerns about cars they are owed, automobiles they marketed but ended up not compensated for, and homeowners Scott Zankl and Kristen Zankl.

Scott Zankl informed BocaNewsNow.com, in an exceptional job interview, that his “landlord” took the vehicles illegally as part of a civil dispute. Lawyers for his landlord, however, denied the accusation and sued Excell.

As we wrote in a Friday report: “The landlord(s), identified as “Auto Wholesale of Boca LLC, Supreme Solutions LLC, and Moshe Farache,” claim in the lawsuit that Excell Automobile is engaged in a multimillion-dollar fraud where by Excell offered autos “out of trust.” That suggests the dealership borrowed revenue to buy a car, then bought the car, but did not return the proceeds of the car or truck again to the lender.

Scott Zankl mentioned there is no fraud and said that he would prevail in the lawsuit.

“The promises are fake,” stated Zankl, exclusively to BocaNewsNow.com. “I have financial institution statements. I am likely to close up on top rated of this.”

Zankl also denied rumors circulating Boca Raton and Delray Seashore that he experienced been arrested by federal agents investigating his dealership.

“There was no raid, no federal brokers,” reported Zankl. “This is not a criminal detail. It is a dispute between me and my landlord.”

At minimum a person community law enforcement company, even so, says it has obtained criminal grievances against Excell Car Team.

The personal bankruptcy petition, which you can study beneath, was filed in U.S. District Courtroom for the Southern District of Florida. Kristen Zankl is outlined as “president” of Excell Automobile Team and signed the “voluntary petition for non-men and women filing for bankruptcy.”

Excell-Chapter-7

 

Content copyright © 2022 Metro Desk Media, LLC. All Legal rights Reserved. BocaNewsNow.com ® is a registered trademark. BocaRudeton™ is a trademark of MetroDesk Media, LLC. Sirens™ is a trademark of MetroDesk Media, LLC. “You hear sirens, we know exactly where they went,”™ is a trademark of MetroDesk Media, LLC. “Don’t Want To Be Observed Listed here? Do not Be Rude Listed here!™” is a trademark of MetroDesk Media, LLC. We vigorously protect our intellectual house and journalistic product or service. Broadcast stations should credit rating BocaNewsNow.com on air. Print will have to refer to BocaNewsNow.com. On line need to connection to BocaNewsNow.com. We have agreements with quite a few companies. Make contact with information (at) bocanewsnow.com. Get in touch with 866-4-FL-Information. Arrest studies are law enforcement accusations. Guilt or innocence is determined in a courtroom of law. 

The Hottest From BocaNewsNow.com