[Vtr-tac] Bill Heard Bankruptcy * Order from Bankruptcy Court Concerning Vehicles Sold Pre-petition.

Electronic Distribution of VTR Information to Texas Counties vtr-tac at dot.state.tx.us
Mon Jun 8 16:47:47 CDT 2009


 
Dear Tax Assessor-Collectors:

Please review and distribute as appropriate.

The Bankruptcy Court handling the bankruptcy of Bill Heard Enterprises, Inc. (Debtor) has issued an Order dated May 20, 2009 (see attached).  The Order states that vehicles sold pre-petition, prior to September 28, 2008, are not the property of the bankruptcy estate and the Debtor retains no legal or equitable interest therein.  The Order goes on to say that any State authority may, although is not required, issue a tag and/or title for the pre-petition vehicles.

The following information concerns vehicles sold by Bill Heard prior to the bankruptcy date of September 28, 2008.  The bankruptcy of Bill Heard Enterprises, Inc., includes Bill Heard Chevrolet and Landmark Chevrolet.  These vehicles are not affected by any of the bankruptcy requirements and should be processed according to normal procedures. 

*	Vehicles/Owners listed on previous Court Orders should continue to be processed as directed in the December 16, 2008, List Serv.

*	Vehicles/Owners that are not listed on a previous Court Order and do not have properly assigned ownership documents may be accepted with the following documents:

1.	Must have an original or certified copy of the Bill Heard Chevrolet or Landmark Chevrolet dealer sales contract.
2.	Court Order dated May 20, 2009
3.	Form 130-U signed by applicant
4.	Proof of insurance (if applicable)

Note:  If the applicant has an acceptable document as stated in the December 16, 2008, List Serv, which itemizes tax, title and registration fees, the transaction should be processed without collection of fees.

*	If the properly assigned ownership documents or original dealer sales contract are not available, the standard options of a TAC Hearing, Bonded Title or Court Order will be required.  

Again, any vehicles with Bill Heard Chevrolet (Sugarland) or Landmark Chevrolet (Houston) as sellers and with the *Date of Sale* prior to September 28, 2008, should not be considered as part of the bankruptcy and should be processed normally.


If you need additional information, please contact your Vehicle Titles and Registration Division Regional Office.
 
 Thanks,

--Rebecca

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----------------------------------------
Rebecca Davio
Director
Vehicle Titles and Registration Division, TxDOT
Telephone: (512) 465-7570
FAX: (512) 467-5909
Email: rdavio at dot.state.tx.us 
 
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