Exhibit 5.1
[Jones Day Letterhead]
June 21, 2013
Asbury Automotive Group, Inc.
2905 Premiere Parkway, NW, Suite 300
Duluth, Georgia 30097
| | Re: | Registration Statement on Form S-4 Filed by Asbury Automotive Group, Inc. |
Relating to the Exchange Offer (as defined below)
Ladies and Gentlemen:
We have acted as counsel for Asbury Automotive Group, Inc., a Delaware corporation (the “Company”), and the Subsidiary Guarantors (as defined below) in connection with the Registration Statement on Form S-4 to which this opinion has been filed as an exhibit (the “Registration Statement”). The Registration Statement relates to the proposed issuance and exchange (the “Exchange Offer”) of up to $100,000,000 aggregate principal amount of 8.375% Senior Subordinated Notes due 2020 of the Company (the “Exchange Notes”) for an equal principal amount of 8.375% Senior Subordinated Notes due 2020 of the Company outstanding on the date hereof (the “Outstanding Notes”). The Outstanding Notes have been, and the Exchange Notes will be, issued pursuant to an Indenture, dated as of November 16, 2010 (as supplemented by the First Supplemental Indenture, dated as of December 30, 2010, the Second Supplemental Indenture, dated as of September 27, 2011, and the Third Supplemental Indenture, dated as of February 15, 2013, the “Original Indenture”), by and among the Company, the Guarantors party thereto and The Bank of New York Mellon, as trustee (the “Trustee”), as supplemented by the Fourth Supplemental Indenture, dated as of June 20, 2013 (the “Fourth Supplemental Indenture”), by and among the Company, the guarantors listed on Annex A hereto (each, a “Covered Guarantor” and, collectively, the “Covered Guarantors”), the guarantors listed on Annex B hereto (each, an “Other Guarantor” and, collectively the “Other Guarantors”; such Other Guarantors and the Covered Guarantors collectively referred to as the “Subsidiary Guarantors”) and the Trustee. The Original Indenture and the Fourth Supplemental Indenture are collectively referred to herein as the “Indenture.” The Outstanding Notes are, and the Exchange Notes will be, guaranteed (each, a “Subsidiary Guarantee”) on a joint and several basis by the Subsidiary Guarantors.
Asbury Automotive Group, Inc.
June 21, 2013
Page 2
In connection with the opinions expressed herein, we have examined such documents, records and matters of law as we have deemed relevant or necessary for purposes of such opinions.
Based on the foregoing, and subject to the further limitations, qualifications and assumptions set forth herein, we are of the opinion that:
1. The Exchange Notes, when they are executed by the Company, authenticated by the Trustee in accordance with the Indenture and issued and delivered in exchange for the Outstanding Notes in accordance with the terms of the Exchange Offer, will constitute valid and binding obligations of the Company.
2. The Subsidiary Guarantee of the Exchange Notes (each, an “Exchange Guarantee”) of each Covered Guarantor, when it is issued and delivered in exchange for the Subsidiary Guarantee of the Outstanding Notes (each, an “Outstanding Guarantee”) of that Covered Guarantor in accordance with the terms of the Exchange Offer, will constitute a valid and binding obligation of that Covered Guarantor.
3. The Exchange Guarantee of each Other Guarantor, when it is issued and delivered in exchange for the Outstanding Guarantee of that Other Guarantor in accordance with the terms of the Exchange Offer, will constitute a valid and binding obligation of that Other Guarantor.
The opinions set forth above are subject to the following limitations, qualifications and assumptions:
For purposes of the opinions expressed herein, we have assumed that the Trustee has authorized, executed and delivered the Indenture and that the Indenture is the valid, binding and enforceable obligation of the Trustee.
For the purposes of our opinion set forth in paragraph 3 above, we have further assumed that (a) each of the Other Guarantors is a corporation or limited liability company existing and in good standing under the laws of its jurisdiction of incorporation or organization as listed opposite such Other Guarantor’s name on Annex B hereto (each, a “Jurisdiction”); (b) the Indenture and the Exchange Guarantees (i) have been authorized by all necessary corporate or limited liability company action, as applicable, of each of the Other Guarantors and (ii) have been executed and delivered by each of the Other Guarantors under the laws of the applicable Jurisdiction; and (c) the execution, delivery, performance and compliance with the terms and provisions of the Indenture and the Exchange Guarantees by each of the Other Guarantors do not violate or conflict with the laws of the applicable Jurisdiction, the provisions of its articles of incorporation, bylaws or other similar formation or organizational documents, as applicable, or any rule, regulation, order, decree, judgment, instrument or agreement binding upon or applicable to such Other Guarantor or its properties.
Asbury Automotive Group, Inc.
June 21, 2013
Page 3
As to facts material to the opinions and assumptions expressed herein, we have relied upon oral or written statements and representations of officers and other representatives of the Company and the Subsidiary Guarantors. The opinions expressed herein are limited by (i) bankruptcy, insolvency, reorganization, fraudulent transfer and fraudulent conveyance, voidable preference, moratorium or other similar laws, and related regulations and judicial doctrines from time to time in effect relating to or affecting creditors’ rights and remedies generally, and (ii) general equitable principles and public policy considerations, whether such principles and considerations are considered in a proceeding at law or in equity.
The opinions expressed herein are limited to the laws of the State of New York and the General Corporation Law of the State of Delaware and the Delaware Limited Liability Company Act, in each case as currently in effect, and we express no opinion or view as to the effect of the laws of any other jurisdiction on the opinions expressed herein.
We hereby consent to the filing of this opinion as Exhibit 5.1 to the Registration Statement and to the reference to Jones Day under the caption “Legal Matters” in the prospectus constituting a part of such Registration Statement. In giving such consent, we do not thereby admit that we are included in the category of persons whose consent is required under Section 7 of the Securities Act of 1933 or the rules and regulations of the Securities and Exchange Commission promulgated thereunder.
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| Very truly yours, |
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| /s/ Jones Day |
Annex A
Covered Guarantors
| | |
Entity | | Jurisdiction of
Incorporation |
| AF Motors, L.L.C. | | Delaware |
| ANL, L.P. | | Delaware |
| Arkansas Automotive Services, L.L.C. | | Delaware |
| Asbury AR Niss L.L.C. | | Delaware |
| Asbury Atlanta AC L.L.C. | | Delaware |
| Asbury Atlanta AU L.L.C. | | Delaware |
| Asbury Atlanta BM L.L.C. | | Delaware |
| Asbury Atlanta Chevrolet L.L.C. | | Delaware |
| Asbury Atlanta Hon L.L.C. | | Delaware |
| Asbury Atlanta Inf L.L.C. | | Delaware |
| Asbury Atlanta Infiniti L.L.C. | | Delaware |
| Asbury Atlanta Jaguar L.L.C. | | Delaware |
| Asbury Atlanta Lex L.L.C. | | Delaware |
| Asbury Atlanta Nis L.L.C. | | Delaware |
| Asbury Atlanta Toy L.L.C. | | Delaware |
| Asbury Atlanta VB L.L.C. | | Delaware |
| Asbury Atlanta VL L.L.C. | | Delaware |
| Asbury Automotive Arkansas Dealership Holdings L.L.C. | | Delaware |
| Asbury Automotive Arkansas L.L.C. | | Delaware |
| ASBURY AUTOMOTIVE ATLANTA II L.L.C. | | Delaware |
| Asbury Automotive Atlanta L.L.C. | | Delaware |
| Asbury Automotive Brandon, L.P. | | Delaware |
| Asbury Automotive Central Florida, L.L.C. | | Delaware |
| Asbury Automotive Deland, L.L.C. | | Delaware |
| Asbury Automotive Fresno L.L.C. | | Delaware |
| Asbury Automotive Group L.L.C. | | Delaware |
| Asbury Automotive Jacksonville GP L.L.C. | | Delaware |
| Asbury Automotive Jacksonville, L.P. | | Delaware |
| Asbury Automotive Management L.L.C. | | Delaware |
| Asbury Automotive Mississippi L.L.C. | | Delaware |
| Asbury Automotive North Carolina Dealership Holdings L.L.C. | | Delaware |
| Asbury Automotive North Carolina L.L.C. | | Delaware |
| Asbury Automotive North Carolina Management L.L.C. | | Delaware |
| Asbury Automotive North Carolina Real Estate Holdings L.L.C. | | Delaware |
| Asbury Automotive Oregon L.L.C. | | Delaware |
| Asbury Automotive Southern California L.L.C. | | Delaware |
| ASBURY AUTOMOTIVE ST. LOUIS II L.L.C. | | Delaware |
| Asbury Automotive St. Louis, L.L.C. | | Delaware |
| | |
Entity | | Jurisdiction of
Incorporation |
| Asbury Automotive Tampa GP L.L.C. | | Delaware |
| Asbury Automotive Tampa, L.P. | | Delaware |
| Asbury Automotive Texas L.L.C. | | Delaware |
| ASBURY AUTOMOTIVE TEXAS REAL ESTATE HOLDINGS L.L.C. | | Delaware |
| Asbury CH Motors L.L.C. | | Delaware |
| Asbury Deland Imports 2, L.L.C. | | Delaware |
| Asbury Fresno Imports L.L.C. | | Delaware |
| Asbury Jax AC, LLC | | Delaware |
| Asbury Jax Holdings, L.P. | | Delaware |
| Asbury Jax Hon L.L.C. | | Delaware |
| Asbury Jax K L.L.C. | | Delaware |
| Asbury Jax Management L.L.C. | | Delaware |
| Asbury Jax VW L.L.C. | | Delaware |
| ASBURY MS CHEV, L.L.C. | | Delaware |
| Asbury MS Gray-Daniels L.L.C. | | Delaware |
| Asbury No Cal Niss L.L.C. | | Delaware |
| Asbury Sacramento Imports L.L.C. | | Delaware |
| Asbury SC JPV L.L.C. | | Delaware |
| Asbury SC LEX L.L.C. | | Delaware |
| Asbury SC TOY L.L.C. | | Delaware |
| ASBURY SO CAL DC L.L.C. | | Delaware |
| ASBURY SO CAL HON L.L.C. | | Delaware |
| Asbury So Cal Niss L.L.C. | | Delaware |
| Asbury South Carolina Real Estate Holdings L.L.C. | | Delaware |
| Asbury St. Louis Cadillac L.L.C. | | Delaware |
| ASBURY ST. LOUIS FSKR, L.L.C. | | Delaware |
| Asbury St. Louis Lex L.L.C. | | Delaware |
| Asbury St. Louis LR L.L.C. | | Delaware |
| Asbury St. Louis M L.L.C. | | Delaware |
| Asbury Tampa Management L.L.C. | | Delaware |
| ASBURY TEXAS D FSKR, L.L.C. | | Delaware |
| ASBURY TEXAS H FSKR, L.L.C. | | Delaware |
| Asbury-Deland Imports, L.L.C. | | Delaware |
| Atlanta Real Estate Holdings L.L.C. | | Delaware |
| Bayway Financial Services, L.P. | | Delaware |
| BFP Motors L.L.C. | | Delaware |
| Camco Finance II L.L.C. | | Delaware |
| CFP Motors L.L.C. | | Delaware |
| CH Motors L.L.C. | | Delaware |
| CK Chevrolet LLC | | Delaware |
| CK Motors LLC | | Delaware |
| CN Motors L.L.C. | | Delaware |
| | |
Entity | | Jurisdiction of
Incorporation |
| Coggin Cars L.L.C. | | Delaware |
| Coggin Chevrolet L.L.C. | | Delaware |
| Coggin Management, L.P. | | Delaware |
| CP-GMC Motors L.L.C. | | Delaware |
| Crown CHH L.L.C. | | Delaware |
| Crown CHO L.L.C. | | Delaware |
| Crown CHV L.L.C. | | Delaware |
| Crown FDO L.L.C. | | Delaware |
| Crown FFO Holdings L.L.C. | | Delaware |
| Crown FFO L.L.C. | | Delaware |
| Crown GAC L.L.C. | | Delaware |
| Crown GBM L.L.C. | | Delaware |
| Crown GCA L.L.C. | | Delaware |
| Crown GDO L.L.C. | | Delaware |
| Crown GHO L.L.C. | | Delaware |
| Crown GNI L.L.C. | | Delaware |
| Crown GPG L.L.C. | | Delaware |
| Crown GVO L.L.C. | | Delaware |
| Crown Motorcar Company L.L.C. | | Delaware |
| CROWN PBM L.L.C. | | Delaware |
| Crown RIA L.L.C. | | Delaware |
| Crown RIB L.L.C. | | Delaware |
| Crown SJC L.L.C. | | Delaware |
| Crown SNI L.L.C. | | Delaware |
| CSA Imports L.L.C. | | Delaware |
| ESCUDE-NN L.L.C. | | Delaware |
| ESCUDE-NS L.L.C. | | Delaware |
| ESCUDE-T L.L.C. | | Delaware |
| Florida Automotive Services L.L.C. | | Delaware |
| HFP Motors L.L.C. | | Delaware |
| JC Dealer Systems, LLC | | Delaware |
| KP Motors L.L.C. | | Delaware |
| McDAVID AUSTIN-ACRA, L.L.C. | | Delaware |
| MCDAVID FRISCO-HON, L.L.C. | | Delaware |
| MCDAVID GRANDE, L.L.C. | | Delaware |
| MCDAVID HOUSTON-HON, L.L.C. | | Delaware |
| McDAVID HOUSTON-NISS, L.L.C. | | Delaware |
| McDAVID IRVING-HON, L.L.C. | | Delaware |
| McDAVID OUTFITTERS, L.L.C. | | Delaware |
| MCDAVID PLANO-ACRA, L.L.C. | | Delaware |
| Mid-Atlantic Automotive Services, L.L.C. | | Delaware |
| Mississippi Automotive Services, L.L.C. | | Delaware |
| Missouri Automotive Services, L.L.C. | | Delaware |
| NP FLM L.L.C. | | Delaware |
| | |
Entity | | Jurisdiction of
Incorporation |
| NP MZD L.L.C. | | Delaware |
| NP VKW L.L.C. | | Delaware |
| PLANO LINCOLN-MERCURY, INC. | | Delaware |
| Premier NSN L.L.C. | | Delaware |
| Premier Pon L.L.C. | | Delaware |
| Prestige Bay L.L.C. | | Delaware |
| Prestige TOY L.L.C. | | Delaware |
| Southern Atlantic Automotive Services, L.L.C. | | Delaware |
| Tampa Hund, L.P. | | Delaware |
| Tampa Kia, L.P. | | Delaware |
| Tampa LM, L.P. | | Delaware |
| Tampa Mit, L.P. | | Delaware |
| Texas Automotive Services, L.L.C. | | Delaware |
| Thomason Dam L.L.C. | | Delaware |
| Thomason Frd L.L.C. | | Delaware |
| Thomason Hund L.L.C. | | Delaware |
| Thomason Pontiac-GMC L.L.C. | | Delaware |
| WMZ Motors, L.P. | | Delaware |
| WTY Motors, L.P. | | Delaware |
Annex B
| | |
Entity | | Jurisdiction of
Organization |
| Avenues Motors, Ltd. | | Florida |
| C&O PROPERTIES, LTD. | | Florida |
| CHO Partnership, LTD. | | Florida |
| Coggin Automotive Corp. | | Florida |
| Crown Acura/Nissan, LLC | | North Carolina |
| Crown Honda, LLC | | North Carolina |
| Precision Computer Services, Inc. | | Florida |
| PRECISION ENTERPRISES TAMPA, INC. | | Florida |
| Precision Infiniti, Inc. | | Florida |
| PRECISION MOTORCARS, INC. | | Florida |
| Precision Nissan, Inc. | | Florida |
| Thomason Auto Credit Northwest, Inc. | | Oregon |
