The U.S. Bankruptcy Court for East Tennessee will approve auto dealer Tim Kelly’s bid to take over the Infiniti dealership formerly owned by Joseph Prebul, Judge John C. Cook said Wednesday.
In a short hearing, Jerrold Farinash, the trustee appointed to oversee the sale of the Prebul dealerships, said Mr. Kelly is as “approved as he can be” to purchase the Infiniti dealership for $275,000. Mr. Farinash said the paperwork Judge Cook will sign to approve the sale will be filed tomorrow.
Chattanooga car dealer Nelson Long had been in line to take over the dealership, but Infiniti did not approve him. Mr. Long will buy Mr. Prebul’s Volvo dealership.
For full details, see tomorrow’s Chattanooga Times Free Press.
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