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Case IH working with customers of former dealership

Agriculture.com Staff 02/21/2006 @ 7:36am

Last fall, CNH and CNH Capital filed for an involuntary Chapter 7 bankruptcy petition against then Case IH dealer Walterman Implement of Dike, Iowa, one of the largest combine and farm equipment dealers in the northeast part of the state.

According to documents filed with the US Bankruptcy Court of the District of Northern Iowa, CNH Capital claimed Walterman sold several pieces of equipment to farmers, then submitted paperwork to both CNH Capital and Agricredit Acceptance Corp., thereby being paid twice for a single item. CNH Capital also claimed money was missing from a combine roll program.

Now, Case IH is working with a court-appointed trustee to ensure former Walterman customers have access to the equipment and service they once received from that dealership. Titan Machinery, one of the largest Case IH dealerships with 24 Midwest locations, including one in nearby Waverly, Iowa, is now working with those customers.

"We've contacted the farmers with financial exposure on the combine 'roll' programs and are assisting them on a case-by-case basis. In this regard we have been able to satisfy their needs in the vast majority of the cases," Mario Ferla, President of Case IH, said in a statement. "We want to continue to work with every former Walterman Implement customer to answer individual questions and discuss issues related to their specific equipment needs, existing financial arrangements and purchase orders."

Former Walterman customers who have not yet had their situation resolved can contact Titan at 319/989-2353. Customers outside the Dike area can call CNH Capital at 800/777-0552 for financing options or to be referred to a local dealership.

In statements to the Waterloo Cedar Falls Courier last October, Leon Walterman, president of Walterman Implement, denied the double financing occurred, and said the combine roll funds were accounted for.

All issues resulting from the operations of the former dealership will ultimately be decided by the bankruptcy court. A final hearing on the bankruptcy is not yet scheduled.

Last fall, CNH and CNH Capital filed for an involuntary Chapter 7 bankruptcy petition against then Case IH dealer Walterman Implement of Dike, Iowa, one of the largest combine and farm equipment dealers in the northeast part of the state.

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