03-01-2017, 05:54 PM
Mr645 wrote:
It's been explained to me that the van is actually owned by the owner of the tile company and the driver, a relative, took it without permission. Geico will end up paying the 10K, the Tile companies insurance is not likely to pay out anything since the van as not being used on company business. We will end up suing the Tile company and owner of the van which will result in a lien against the company and against he owners home. Legal fees will also be greater then the $14k they have to pay and eventually we'll receive the balance when they go to sell the home in the future, or get a judgement to freeze the Tile company assets and bank accounts to pay off the debt. Lawyer is trying to determine assets of the company as it seems to be a small company, 3 employees, 1 van, operating out of a self storage unit.
So employee borrowing the company van may end up costing the owner his house and/or bankrupting the company
I hope you have an experienced attorney that will jump on this ASAP. A friend got taken advantage by an acquaintance and the guy dragged his feet while the defendant jettisoned a bunch of assets and hid cash.