In an effort to reclaim a $6.8 million commercial loan to the Bob Smith Automotive Group and its owner Lee Denny, a Pennsylvania bank is seeking to collect the company’s property from several local banks as well as General Motors Corp. and GMAC Bank. Denny, meanwhile, is still trying to sell his Easton dealership, which closed in early February after defaulting on more than $12-million in loans from GMAC. The dealership property, however, is set to be sold at the Talbot County tax sale May 13 for unpaid taxes totaling more than $41,000. Denny also is facing multiple lawsuits from lenders and local businesses claiming he defaulted on loans or failed to pay for services.
According to public notices printed in The Star Democrat, two lots comprising the dealership property on Ocean Gateway are to be offered for sale May 13 at Talbot County Circuit Court to satisfy unpaid state, county or municipal taxes. Six other lots listed as belonging to Denny or Nordstrom Easton also will be listed in the tax sale. The total amount of outstanding taxes for all eight properties is $56,248.41. Properties will be auctioned off individually at the tax sale, with the starting price equal to the amount of outstanding taxes due. If a property is sold, the owner has six months to redeem it by paying the taxes before the winning bidder can begin court proceedings to claim it.