NextGear Capital, Inc. v. Tristate Auto Service Center, Inc.

CourtDistrict Court, E.D. New York
DecidedFebruary 27, 2025
Docket1:23-cv-09458
StatusUnknown

This text of NextGear Capital, Inc. v. Tristate Auto Service Center, Inc. (NextGear Capital, Inc. v. Tristate Auto Service Center, Inc.) is published on Counsel Stack Legal Research, covering District Court, E.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
NextGear Capital, Inc. v. Tristate Auto Service Center, Inc., (E.D.N.Y. 2025).

Opinion

UEANSITTEEDR NS TDAISTTERS IDCITS TORF INCETW C OYUORRTK -------------------------------------------------------------------- x NEXTGEAR CAPITAL, INC., MANHEIM : REMARKETING, INC. d/b/a MANHEIM : PENNSYLVANIA, : REPORT AND : RECOMMENDATION Plaintiffs, : : No. 23-CV-9458-NCM-JRC -against- : : TRISTATE AUTO SERVICE CENTER, INC. and : ZU JI GAO, : : Defendants. : : --------------------------------------------------------------------- x JAMES R. CHO, United States Magistrate Judge: Plaintiffs NextGear Capital, Inc. (“NextGear”) and Manheim Remarketing, Inc. (“Manheim” and collectively, “plaintiffs”) bring this diversity action for, inter alia, breach of contract against defendants Tristate Auto Service Center, Inc. and Zu Ji Gao (“defendants”), arising out of defendants’ failure to pay for certain motor vehicles they purchased at auction. See Compl., Dkt. 1. Currently before this Court, on referral from the Honorable Natasha C. Merle, is plaintiff Manheim’s motion for default judgment against defendants.1 See Mot. for Default J., Dkt. 26. For the reasons set forth below, this Court respectfully recommends granting Manheim’s motion. I. Factual Background The following facts are drawn from the Complaint and accompanying exhibits, which are accepted as true for purposes of this motion. See Dkt. 1. Plaintiff Manheim is a Delaware corporation with its principal place of business in Georgia. See Compl. ¶ 3. Manheim is the world’s largest wholesale automobile marketplace, which, among other things, operates automobile auctions that allow used car dealers to purchase vehicles. See id.

1 Following a motion hearing held on August 1, 2024, NextGear withdrew its request for a money ¶ 3. Manheim operates a number of automobile auction venues, including one in Manheim, Pennsylvania. See id. ¶ 24. NextGear is a Delaware corporation with its principal place of business in Indiana. See id. ¶ 2. NextGear provides floor plan financing to used automobile dealers. See id. Defendant Tristate Auto Service Center Inc. (“Tristate”) is a used automobile dealer with its principal place of business located at 1769 McDonald Avenue, Brooklyn, New York. See id. ¶ 4. Defendant Zu Ji Gao (“Gao”) is the President of Tristate and is domiciled in New York. Id. ¶ 5. On October 25, 2022, NextGear extended a line of credit to Tristate in order to permit Tristate to finance motor vehicles for resale to retail customers in connection with Tristate’s used

car dealership. See id. ¶ 9. Tristate entered into a Demand Promissory Note and Loan and Security Agreement with NextGear (the “Note”) granting NextGear a security interest in “all of Borrower’s assets and properties, wherever located, including, without limitation . . . all vehicles and vehicle parts; all Inventory now owned or hereafter acquired, including, without limitation, all Lender Financed Inventory now owned or hereafter acquired . . . and all additions, accessions, accessories, replacements, substitutions and proceeds of any of the foregoing.” See id. ¶¶ 9-10; Note ¶ 2(a), Dkt. 1-1. The security interest was intended to “secure full and prompt payment of all Liabilities and performance of all obligations of [Tristate] to [NextGear] its Affiliates, and/or their respective successors or assigns.” Note ¶ 2; see id. ¶ 2(b) (“The security interest given to Lender in Section

2(a) is given . . . to secure payment of all Liabilities and the performance of all obligations of Borrower to Lender, and its Affiliates, including all obligations of Borrower under this Note, under any other Loan Document, or otherwise[.]”). Tristate acknowledged by signing the Note that Manheim is an affiliate of NextGear. Id. ¶ 5(dd) (“Borrower acknowledges that Cox Automotive, Inc. (formerly Manheim, Inc.) and Manheim Remarketing, Inc., together with each of their respective direct and indirect subsidiaries and affiliated U.S. auctions (collectively “Manheim”), are Affiliates of [NextGear]”). The parties agreed that an event of default would occur if “(a) Borrower or Guarantor fails to perform any of its obligations, undertakings or covenants under this Note . . . ; (b) Borrower or any Guarantor breaches or otherwise violates any provision of this Note . . ; [and] (e) Borrower or any Guarantor . . . has defaulted in the payment or performance of any debt or obligation under any other agreement, whether to Lender or to a third party.” Id. ¶ 6(a), (b), (e). Upon the occurrence of an event of default, NextGear can “[d]emand immediate payment of all Liabilities and other indebtedness and amounts owed to Lender and its Affiliates by Borrower and its Affiliates . . . [and] to take possession of and remove any Collateral.” Id. ¶ 7(a). Tristate further agreed that in

the event of a default, it would “pay all reasonable attorneys’ fees and other collection costs incurred by Lender and its Affiliates in enforcing this Note . . . after any Event of Default.” Id. ¶ 7(d). On October 25, 2022, NextGear filed a UCC-1 financing statement in connection with the Note. See Compl. ¶ 16; UCC Financing Statement, Dkt. 1-2. On October 25, 2022, defendant Gao executed an individual guaranty of the Note, in which he “voluntarily, unconditionally, and absolutely guarantees (i) the full and prompt payment when due, whether by acceleration or otherwise . . . [of] all Liabilities; and (ii) the full and prompt performance of all the terms, covenants, conditions, and agreements related to the Liabilities.”

Compl. ¶¶ 18-19; Guaranty ¶ 2(a), Dkt. 1-3. In the Guaranty, “Liabilities” are defined as “any and all Advances, debts, financial obligations, fees, charges, expenses, attorneys’ fees, and costs of collection owning, arising, due, or payable from Borrower to Lender or any of its Affiliates, of any kind or nature.” Id. ¶ 1(b). Gao further agreed that it would qualify as an event of default if he “fails to make full payment of any amount owed hereunder” or “fails to perform or observe any agreement, covenant, terms or condition contained in this Guaranty.” Id. ¶¶ 4(a), (b). In the event of default, Gao also agreed “to pay all expenses, including attorneys’ fees and court costs . . . paid or incurred by Lender or its Affiliates in endeavoring to collect on any Liabilities.” Id. ¶ 2(a). Between August 7, 2023 and December 15, 2023, Tristate purchased at least 24 vehicles through Manheim automobile auctions, primarily in Manheim, Pennsylvania, for which Manheim has not been paid. See Compl. ¶¶ 24-25; Invoices, Dkt. 1-4; see also Certification of Matt Easler (“Easler Cert.”) ¶ 4, Dkt. 26-11. Plaintiff attached to the Complaint invoices for the purchase of the vehicles, which each provide that the buyer is Tristate and the buyer’s representative is defendant Gao. See Invoices, Dkt. 1-4. Each invoice also provides that a late fee will be added “subject to details in the Manheim Terms and Conditions.” See id.

Previously, on November 18, 2021, Gao, on behalf of himself and Tristate, confirmed acceptance of Manheim’s Terms and Conditions by providing his electronic signature on Manheim.com in connection with using Manheim’s auction location. See Compl. ¶ 28; Electronic Signature Report, Dkt. 1-5; see also Easler Cert. ¶ 8. Those Terms and Conditions provide that “Title to a Vehicle does not pass to Buyer until good funds are received. Buyer grants Manheim a security interest in each Vehicle to secure payment of the purchase price and of any other debt owed by Buyer to Manheim (including any affiliates of Manheim or Cox Automotive, Inc.).” Terms and Conditions ¶ 13(b), Dkt. 1-6; Compl. ¶ 29.2 Further, the buyer agrees “to purchase the applicable Vehicle for the purchase price . . . shown on the final bill of sale or other final purchase

receipt from us.” Id. ¶ 13(e).

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Bluebook (online)
NextGear Capital, Inc. v. Tristate Auto Service Center, Inc., Counsel Stack Legal Research, https://law.counselstack.com/opinion/nextgear-capital-inc-v-tristate-auto-service-center-inc-nyed-2025.