Not quite the same maybe, but some years back I bought a new station wagon and traded in my sedan. I paid with my trade-in and a loan from my credit union.
I had a signed contract, got a temporary paper license plate, and took the wagon home. When the paper license plate was a few days from expiration, I went back to the dealer and they were closed down.
I went to the DMV, and after a few run arounds, I learned that the bank that financed the dealer's inventory had foreclosed, and now owned by station wagon. I was given another temporary plate and registration, and I had to keep renewing that until the legal matters were resolved (almost a year) before I finally got a metal license plate and normal registration.
The credit union was very supportive, but the DMV acted like I had the plague. Apparently my trade in was sold at auction.