The Forest Lake Ford dealership, which had been operating under receivership since late January, notified a federal judge last week that it will be filing for bankruptcy. 

John D. Berken, the president of Forest Lake Ford, was sued by American Express Dealership for failing to pay close to $4 million in cash charges.

American Express said this violated the credit card's policy. Berken will file for Chapter 11, as he tries to resolve the claims made by American Express, which has accused him of fraudulently using Forest Lake Ford's credit card in order to pay off creditors and former business partners.

---

Social Bookmarking ...