Ford Credit still has objections to parts of Reagor-Dykes' proposed reorganization plan.
Days before the next scheduled hearing in the Reagor-Dykes bankruptcy case, a U.S. Trustee filed objection to the proposal to use cash collateral.
Senior U.S. District Judge Sam Cummings has set a trial date in determining what Bart Reagor owes to Ford Motor Credit.
International Bank of Commerce is suing Ford Motor Credit, claiming it had an advantage over other lenders. It claims Ford Credit did not inform any other parties of major fraud until it was too late to mitigate damages.
A hearing was scheduled in Lubbock Federal Court Thursday morning over how much Bart Reagor personally owes to Ford Motor Credit. The hearing has been postponed.
An administrative judge has assigned a new judge to oversee International Bank of Commerce Oklahoma's lawsuit against Bart Reagor and Rick Dykes.
99th District Court Judge Bill Sowder has recused himself from a lawsuit filed against Bart Reagor. A new judge will have to decide whether to expedite a decision on International Bank of Commerce Oklahoma's claims against him.
There is a date set for hearing the Reagor-Dykes Auto Group's disclosure statement, for its re-organization plan.
The Chapter 11 reorganization plan includes up to $14 million from an unnamed "plan sponsor," agreements with Ford, GM, and Toyota, new consulting services to ensure smooth operations, and payments to creditors.
A consulting and media firm has released statements on behalf of Bart Reagor, stating he had no knowledge of alleged fraud at his Auto Group.
This will allow Reagor-Dykes to cut a deal with its creditors and lenders -- likely including Ford Motor Credit and GM Financial -- to make debt repayment more achievable.
Former Reagor-Dykes CFO Shane Smith has pleaded guilty to a federal charge of conspiracy to commit wire fraud. New documents show e-mails between Smith and other employees discussing financing fraud.
After a judge granted Ford Credit summary judgment in its suit against Bart Reagor, Reagor asked Ford Credit to show its work. A hearing next month will address the dispute.
Reagor's attorneys essentially ask the court to force Ford Credit to prove, line-by-line and with documentation, how much Reagor personally owes to the credit agency,
Some major remnants of the Reagor-Dykes Auto Group will be auctioned off Saturday. It has been seized as part of Ford Motor Credit's collateral, as it includes assets from seven dealership locations across West Texas.
Ford Motor Credit Company estimated Bart Reagor, the namesake co-owner of the bankruptcy-ridden Reagor-Dykes Auto Group, owes it $46.7 million following Senior U.S. District Judge Sam Cummings's ruling against the lone defendant on May 24.
Senior U.S. District Court Judge Sam Cummings ordered summary judgment against Bart Reagor in an order filed late Friday. He holds Reagor solely responsible for the remainder of what the Reagor-Dykes Auto Group owes to the Ford Motor Credit Company.
Progress is being made in resolving some of hundreds of Reagor-Dykes customers' registration issues.
The International Bank of Commerce - Oklahoma filed suit Thursday in a Lubbock district court against co-owners Bart Reagor and Rick Dykes individually, as well as multiple capital and insurance branches of the Reagor-Dykes Auto Group.
The State of Texas filed suit against Bart Reagor and Rick Dykes, individually, in Travis County Monday, asking for more than $50,000 in unpaid sales taxes plus interest and attorney's fees.
During a hearing in bankruptcy court Wednesday morning, Reagor-Dykes counsel said resolutions have been reached with multiple entities that earlier filed objections to this plan. It would allow Lubbock County to register vehicles, waiving unpaid sales tax.
The Reagor-Dykes Auto Group co-owner and his wife denied most claims from an insurance company in its $2.4 million dollar lawsuit against the couple. Universal Underwriters Service Corporation sued the Reagors in March, asking for backpay it claims Reagor-Dykes owes from insurance contracts.
Progress is being made on a plan to resolve hundreds of tax, title and license issues for Reagor-Dykes customers. But there isn't an agreement just yet.
Several entities connected to the Reagor-Dykes Auto Group object to its proposal and amended proposal to resolve hundreds of tax, title and license issues. It's not the issue of resolving customer's problems ongoing since early August. It's how it should get done.
GM Financial supports the effort to resolve hundreds of problems keeping Reagor-Dykes customers from registering their vehicles. But it does not want to turn over titles or other documents without a guarantee it will be paid.