Supreme Court (Mich.) Says Auto Finance Companies Properly Sought Tax Refunds for Post-Repossession Deficiency Balances
In Ally Financial, Inc. v. State Treasurer, State of Michigan, 2018 WL 3520302, at *6–7 (Mich., 2018), the Michigan Supreme Court found that auto finance companies properly sought tax refunds for post-repossession deficiency balances. In the present case, we have to make sense of the fifth item, “repossessed property.” The statute clearly states that “repossessed property” is not part of… Read More