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Foundation Automotive 'insolvent' after losing $5 million judgment appeal
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Foundation Automotive 'insolvent' after losing $5 million judgment appeal
On the Dash: Foundation Automotive’s CFO told a North Dakota court the company is insolvent, and creditor HPS Investment Partners has taken control of its board. The U.S. Court of Appeals for the Eighth Circuit upheld a $4.7 million judgment against Foundation on Aug. 4, closing a six-year legal fight with dealership seller BAPTKO Inc. Foundation has sold 18 dealerships and closed one since December 2024, reducing its store count from more than…
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