RACINE, Wis. -- The irregularities at Walterman Implement, a former Case IH dealership in Iowa, have forced CNH and CNH Capital to petition the bankruptcy court to operate the dealership under supervision of the court-appointed trustee. The involuntary Chapter 7 bankruptcy petition was filed to protect Walterman customers and creditors.
"We acknowledge the difficulties the bankruptcy has created for our customers. We have been hurt financially as well," said Mario Ferla, president of Case IH.
"Our goal is to make sure our customers continue to have access to the equipment and service they need and desire, and we continue to work with the court-appointed trustee to provide the full range of services through Dike dealership, Titan Machinery Inc.
"While sorting through the uncertainty and complexities of the bankruptcy, we are exploring every option available that supports our customers. We've contacted the farmers with financial exposure on the combine 'roll' programs and are assisting them on a case-by-case basis. In this regard, we have been able to satisfy their needs in the vast majority of the cases," Ferla said.
"We want to continue to work with every former Walterman Implement customer to answer individual questions and discuss issues related to their specific equipment needs, existing financial arrangements and purchase orders. We will do everything required to balance the interests of our customers and our company," Ferla added.
Case IH and CNH Capital encourage customers who have not yet resolved their situation to contact:
All issues resulting from the operations of the former dealership will ultimately be decided by the bankruptcy court. A final hearing on the bankruptcy is not yet scheduled, and it is not Case IH and CNH Capital policy to engage in speculation as to the possible results of those proceedings.
Case IH is a leader in the farm equipment industry. Thanks to a 160-year history, the Case IH signature red color is recognized around the world. Through a network of more than 4,900 dealers and distributors worldwide, Case IH sells a full line of equipment and supports its customers with parts, service and financial products.
CNH Capital is a leading financial services company which combines the strength of its global reach with a long-standing knowledge of Case IH, New Holland, Case, Kobelco, and New Holland Construction brands through nearly 50 years of equipment lending experience.
SOURCE: Case IH via PR Newswire.