Reagor Dykes Coverage

The Facts: Claims filed in Reagor-Dykes bankruptcy total more than $163 million

After combing through court documents and removing duplicate claims from dozens of creditors in the case for the original six Reagor-Dykes Auto Group locations where the deadline has passed to make a claim, the total dollar amount comes to more than $163.6 million.

Former RDAG CFO’s motion to move case citing possible ‘tainted jury pool’ is denied

Settlement reached in Vista Bank lawsuit against Shane Smith

5 more RDAG entities file to be included in Chapter 11 bankruptcy

Former attorneys for Reagor-Dykes seeking payment for their work

Vista Bank asking judge to give access to $1M in frozen RDAG bank accounts; RDAG files counter complaint

RDAG attorney: 25% of TT&L issues could be resolved this week

Continued Coverage

Bart Reagor files response to FirstBank & Trust complaint alleging $3 million loss

Reagor-Dykes building put on foreclosure list

Former Reagor-Dykes CFO denies allegations from Lubbock bank

Reagor-Dykes customers will have to wait for TT&L, trade-in resolution

FirstCapital files counterclaim against FirstBank & Trust in Reagor-Dykes controversy

Reagor-Dykes jet to be sold by lending company

Reagor-Dykes customers caught in lawsuit, bankruptcy limbo to see relief

The ruling means if there are any negative comments on an affected customer’s credit report, those comments will be removed. If the customer was having to pay for their trade in and their new car, the payoff for their old car will finally be paid.

Judge approves motion of employment for RDAG law firm

U.S. Bankruptcy Judge Robert Jones approved an application for employment from a law firm that handled the initial stages of the Reagor-Dykes bankruptcy on Friday.

Ford Motor Credit objects to Reagor-Dykes Auto Group using Mullin Hoard & Brown

Ford Motor Credit Company LLC (“Ford Credit”) has objected to the motion to employ Mullin Hoard & Brown L.L.P., as counsel for Reagor-Dykes Auto Group from August 1, 2018 through August 21, 2018.

Vista Bank sues former Reagor-Dykes Auto Group CFO Shane Smith

In documents filed in District Court on Wednesday, Vista Bank has filed suit against the former Chief Financial Officer of Reagor-Dykes Auto Group for defaulting on an unsecured personal loan for $200,000.

  FirstCapital Bank asks the court to ‘toss Vista Bank’s lawsuit’ against them

TxDMV: Reagor-Dykes Auto Group and 10 finance companies to blame for 100 title complaints

FirstBank & Trust sues Reagor-Dykes Auto Group, claiming it’s owed more than $3 million

FirstCapital Bank says they were victims of Reagor-Dykes check-kiting

Judge approves KamKad to be ‘stalking horse’ bidder for Reagor-Dykes Auto Group

Ford, GM, Toyota all object to Reagor-Dykes sale

  Bart Reagor responds to more than $40 million lawsuit

Bart Reagor has responded to the 40-plus million dollar lawsuit filed by Ford Motor Credit.

Rick Dykes: Former Reagor-Dykes Auto Group CFO gave false financial info to Ford Credit

Rick Dykes issued a response to the civil suit filed by Ford Motor Credit on Thursday, accusing his former CFO of providing false information about RDAG finances.

UPDATE: Judge approves expedited hearing on Reagor-Dykes Auto Group’s request to sell at auction

The Chief Restructuring Officer (CRO) has filed documents in bankruptcy court on behalf of Reagor-Dykes Auto Group seeking approval to authorize and approve KamKad Automotive as a "stalking-horse bidder" and to allow the competitive bid process to begin.

Reagor-Dykes customer receives title application after 3 months of silence

We have been following the saga of one customer directly affected by the Reagor-Dykes Auto Group bankruptcy filing. Today our cameras followed Harold Jensen as he went in to get his title application.

IRS now listed as creditor in Reagor-Dykes Auto Group bankruptcy

In documents filed on September 7, the Internal Revenue Service is now listed as a creditor and a party in interest in the bankruptcy case for Reagor-Dykes Auto Group.

Customer faces weeks of silence trying to reach Reagor Dykes customer service

Harold Jensen paid cash for a truck from Reagor Dykes, but three months later, he still doesn't have the title. He says it took weeks to even hear from the dealership.

  Ford Motor Credit files civil suit against Bart Reagor, Rick Dykes, 3 Lubbock locations

Ford Motor Credit has filed a civil lawsuit against the three entities and two people who were not listed in the Reagor-Dykes Auto Group bankruptcy.

Reagor-Dykes Auto Group wants to set up appointments with affected customers

In a news release issued late Tuesday afternoon, officials with Reagor-Dykes Auto Group say they would like to meet customers impacted by the current bankruptcy situation face-to-face.

Int’l Bank of Commerce files motion to allow possible foreclosures on Reagor-Dykes properties

In court documents filed late Friday afternoon, the International Bank of Commerce, the bank financing most of the Reagor Dykes real estate across five Texas counties, asked the bankruptcy court to allow it to initiate foreclosure proceedings on those properties.

Bart Reagor, Rick Dykes may join Reagor-Dykes Auto Group Ch. 11 bankruptcy case

Today was the deadline for Reagor-Dykes Auto Group to answer Ford Motor Credit's complaint, saying they're owed more than $40 million. An extension was granted because, among many reasons, Bart Reagor, Rick Dykes and three Reagor-Dykes Auto Group entities may file for chapter 11 bankruptcy, according to new court documents filed today.

Documents in Reagor-Dykes Auto Group case reveal specific details of CRO’s job responsibilities

New court documents filed in the Reagor-Dykes Auto Group's bankruptcy case reveal details surrounding the employment of the chief restructuring officer.

Reagor-Dykes Bankruptcy Hearing: CRO hopes 90 of 900 cases to be resolved in 3 weeks

In a bankruptcy hearing that began at 9 a.m. for Reagor-Dykes Auto Group, the impact of the bankruptcy could be seen by the number of attorneys in the room. As of 9 a.m., there were at least 18 attorneys present.

Jack Morris estate demands Reagor-Dykes pay rent or break lease

In a motion filed Thursday, the executors of the M.I. "Jack" Morris estate, Movant, is asking Reagor-Dykes Auto Group to pay the rent at Reagor-Dykes Ford Lincoln in Plainview, or reject the lease.

Company offering warranties, GAP insurance asking for $665k in unpaid debt from Reagor-Dykes

Universal Underwriters Service Corporation, a company who provides protection products for customers buying a vehicle, is asking Reagor-Dykes Auto Group (RDAG) to pay the nearly $665,000 owed to them. Universal states in a motion filed Wednesday that they need RDAG to either pay the outstanding balance or lift the automatic stay so Universal can terminate their agreement with RDAG.

Ford objects to new attorneys for Reagor-Dykes Auto Group

Ford Motor Credit has filed an objection to Reagor-Dykes Auto Group's request to hire new attorneys for their bankruptcy case.

Bankruptcy judge amends motion for GM to terminate dealer agreement with Reagor-Dykes Floydada

General Motors LLC filed a motion on Thursday, August 10 to allow the company to terminate its franchise with Reagor-Dykes Floydada Chevrolet. The judge granted the motion. On Friday, August 24, an amended motion was granted.

Reagor-Dykes Auto Group fires bankruptcy attorneys

According to new documents filed with the bankruptcy court on Friday afternoon, as of August 21, 2018, the Chief Restructuring Officer for Reagor-Dykes Auto Group informed their attorney David Langston that they decided to go with another law firm to serve and act as counsel for their case.

Reagor-Dykes Mitsubishi asked to move out or pay $55k per month rent due

According to documents filed Thursday morning, Reagor-Dykes Auto Group has not paid rent for August in the amount of $55,000 for the Mitsubishi location on 82nd Street near Milwaukee Ave.

Job seeking resources for RDAG employees

With the fallout of the Reagor-Dykes Auto Group bankruptcy, around 700 employees have an uncertain future with the company. So, what resources are available to help these employees if they find themselves looking for work in the near future?

Ford demanding jury trial in suit against Reagor-Dykes

Ford Motor Credit filed an amended complaint with the court on Friday, demanding a trial by jury and moving ahead with its lawsuit against Reagor-Dykes companies that are not currently involved in bankruptcy proceedings.

Dealership asking court to allow recovery of 15 vehicles sold to Reagor-Dykes

A dealership filed a motion with the Lubbock bankruptcy court on Friday, asking for the court to rule on the disposition of 15 vehicles that were purchased by Reagor-Dykes dealerships...

Vista Bank sues FirstCapital Bank for $6M, claims Rick Dykes used insider information

According to documents filed earlier this week, Vista Bank is suing FirstCapital Bank, Brad Burgess and Kenneth Burgess Jr. to recover more than $6 million in damages. It claims FirstCapital inflicted the damages on Vista through inside information they obtained through their close relationship with Rick Dykes.

FirstCapital Bank responds to suit for $6M: Vista Bank is “weaponizing the judicial system”

FirstCapital Bank has filed a response with the courts to answer Vista Bank's accusation FirstCapital used insider information from Rick Dykes to use a check-kiting scheme to obtain millions of dollars.

Judge rules on use of Reagor-Dykes restructuring officer, paying employees

The courtroom was packed Thursday as attorneys and others gathered for the Reagor-Dykes bankruptcy hearing -- just about the only person not in attendance was Bart Reagor.

Reagor-Dykes issues apology to customers, friends, employees

At noon on Wednesday, Reagor-Dykes Auto Group released a letter of apology to their customers, friends and employees who have been affected by the recent lawsuit and bankruptcy.

Ford: ‘Reagor-Dykes Auto Group created their own financial mess’

On Tuesday, Ford Motor Credit Company filed an objection to Reagor-Dykes Auto Group's request to hire a Chief Restructuring Officer, saying Reagor-Dykes Auto Group "created their own financial mess" and the company is not following the rules set in the court's interim cash collateral order by the bankruptcy judge.

Judge grants order allowing Reagor-Dykes additional 30 days to submit financial documents

On Saturday, Reagor-Dykes Auto Group  filed an order to allow 30 extra days for the group to submit schedules and financial statements. On Tuesday, the bankruptcy judge granted the motion and the company has until September 14 to submit all necessary documents to bankruptcy court.

US Dept. of Justice objects to Reagor-Dykes request to hire Chief Restructuring Officer

In documents filed Monday, August 13, a United States Department of Justice Trustee has objected to Reagor-Dykes Auto Group's request to hire a Chief Restructuring Officer (CRO) to investigate the actions of the former Chief Financial Officer and anyone who may have been working with that person.

RDAG: Request made for additional 30 days to submit financial documents

The Reagor-Dykes Auto Group has filed an order to allow 30 extra days for the group to submit schedules and financial statements.

Motion Granted: General Motors to terminate Reagor-Dykes Floydada Chevrolet franchise

General Motors LLC filed a motion on Thursday to allow the company to terminate its franchise with Reagor-Dykes Floydada Chevrolet. The judge has granted the motion.

Ford: This may be one of the largest frauds in the history of the United States

Ford Motor Credit filed additional documents with the bankruptcy court Friday morning, claiming this may be one of the largest floor-plan financing frauds in the history of the United States.

Lubbock attorney considers options for Reagor-Dykes bankruptcy

After accusing Reagor-Dykes dealerships of selling Ford vehicles without remitting required payments to Ford Motor Credit, the two will have their day in court on Aug. 8.

Ford Motor Credit Company sues Reagor-Dykes Dealerships; RD files for bankruptcy

According to federal court documents filed on July 31, 2018, Ford Motor Credit Company is suing Reagor-Dykes dealerships, Bart Reagor and Rick Dykes. Ford says the dealerships have an outstanding balance of more than $116 million, and currently more than $41 million is due now.