Prebul Auto Group has $995,784 in assets and over $23 million in liabilities, according to filings in Chattanooga Bankruptcy Court.
It says owner Joe Prebul received about $1.6 million in the last year in rent, interest and draws from the failing dealerships.
During 2008, he received $1,078,500 in rent from Prebul Jeep, a $219,000 draw from Prebul Jeep, $91,500 in rent from Prebul Chrysler Dodge, $89,840 in interest from Prebul Dodge of Chattanooga, $3,510 in interest from Prebul Chrysler Jeep Dodge, $18,000 in interest from Prebul Dodge of Chattanooga, $77,000 in rent from Prebul Jeep, $8,500 in rent from Prebul Chrysler Dodge and a $21,000 draw from Prebul Jeep.
Secured claims against the dealerships are listed as Chrysler Financial Company $6,785,427, FSG Bank $3.5 million, Hitachi Capital America Corporation $3,170,017, Reyna Capital Corporation $200,000, Wachovia Bank $48,000, Chrysler Financial DRAC Program $272,084 and GE Commercial Distribution Finance $288,579.
It says Esther Greenwald is owed $890,000.
The documents list payments of $1,550,000 and $3 million to Alliance Investment Group and Danny Bensusan, $50,000 to 117 7th Ave. S and Danny Bensusan and $800,000 to TSE and Danny Bensusan.
It says there were $9.1 million in wire transfers to Danny Bensusan.
New York music mogul Bensusan is the brother-in-law of Joe Prebul. A Bensusan lawsuit against Prebul is seeking $32 million in compensatory and punitive damages. He claims he forwarded millions of dollars to Prebul believing that it was being invested for him at six percent interest.
The documents say the Prebul dealerships took in $221.7 million in gross income in 2007 and $159.1 million in 2008.
Joe Prebul owns 100 percent of stock in the dealerships.