A Lubbock District Court Judge has granted summary judgment to Vista Bank in its lawsuit against Bart Reagor.
In a final judgment filed Tuesday, Senior U.S. District Judge Sam Cummings ordered Bart Reagor to pay $49,280,709.59 to the Ford Motor Credit Company, adding the agency's attorney fees.
Several creditors involved in the Reagor-Dykes bankruptcy have filed notice with the court as to why a reorganization plan should not be approved.
Ford Motors claims it can't provide Ford and Lincoln sales and service agreements to any reorganized dealerships due to outstanding debts totaling nearly $450,000.
A former group administrative director for the Reagor-Dykes Auto Group has pleaded guilty. The tally of former employees who have pleaded guilty is now up to eight.
Vista Bank and defendants FirstCapital Bank and Brad Burgess have reached a "mutual and amicable resolution of their dispute", according to a joint news release from all the parties.
Rick Dykes and First Bank & Trust have settled their claims against each other, according to a court filing.
Pepper Rickman and Sherri Wood admitted they were part of an interdealership floor plan financing fraud scheme that cost Ford Motor Credit more than $27 million, according to court records.
Vista Bank will win the summary judgment against Bart Reagor, according to court documents.
There will be a hearing later this month on a proposal to convert the Reagor-Dykes Auto Group bankruptcy cases to chapter 7 liquidation.
In a new court filing, Ford Motor Credit Company takes issue with statements First Bank & Trust made in its motion to convert the Reagor-Dykes bankruptcy to chapter 7 liquidation.
A former office manager and a former account manager have pleaded guilty for their roles in the massive fraud at the Reagor-Dykes Auto Group.
In federal bankruptcy court, attorneys for the Reagor-Dykes Auto Group have asked the court to push back a hearing asking to convert everything to liquidation.
In its civil action in federal court, First Bank and Trust claims Bart Reagor and Rick Dykes are using hearsay, speculation and innuendo to fight its lawsuit against them.
Judge Ruben Reyes has denied Bart Reagor's attempt to delay Vista Bank's lawsuit against him.
Testimony has wrapped in the Ford Motor Credit v. Bart Reagor trial. Jurors are now deliberating how much Reagor owes.
Attorneys for Vista Bank are asking Judge Ruben Reyes to reject Reagor's request for a continuance.
A gag order has been issued, preventing Bart Reagor, or anyone speaking on his behalf, from making comments about this case before the jury makes a decision.
The first day of the of the Ford Motor Credit v. Bart Reagor trial concluded Wednesday at the Lubbock Federal Courthouse with an amount of money the agency claimed Reagor now owes.
Bart Reagor, co-owner of the bankruptcy-ridden Reagor-Dykes Auto Group, claims a bank he and the auto group did business at wrongfully took control of his personal accounts to offset debt Vista Bank claimed against him.
A federal bankruptcy judge has approved the disclosure statement and reorganization plan for the Reagor-Dykes Auto Group, taking the next step toward rebuilding the auto group under Chapter 11.
The number of people who have pleaded to federal charges in the Reagor-Dykes fraud is now three.
In a motion filed Friday, Reagor-Dykes Auto Group creditor First Bank & Trust asked a U.S. bankruptcy court to convert the auto group's case from reorganization to liquidation, arguing the debtor has failed to propose ways to benefit its creditors.
Bart Reagor has demanded a jury trial to determine how much he owes Ford Motor Credit; he disputes the agency's original estimate of more than $46 million.
Henry Resources, LLC, has been named as the primary investor in the "Auto Investment Group," which will front the initial $13 million necessary to facilitate a plan out of bankruptcy.