William E. McComas has successfully resolved several interpleader actions. In the various actions, our client, a bank, made loans to dealers who failed to add our client as a secured creditor to various titles for vehicles financed by our client. When the dealers went out of business, claims were made by various finance companies and consumers against the bonding companies that supplied the dealer bonds. The bonding companies chose to deposit the funds with the court, leaving it to the various claimants to determine who should get paid what. William was able to negotiate a pro rata distribution which paid our client a fair share of the bond proceeds in each action. In some instances, William was able to reduce the claims made by certain of the claimants in order to maximize payment to our client.
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