Reagor Dykes Coverage

  Judge orders Ford Motor Credit to attend mediation with Reagor-Dykes

A crowd of more than one dozen attorneys were in Judge Robert Jones’ courtroom Thursday to plead their cases in the ongoing Reagor-Dykes reorganization.

  FirstBank & Trust: RDAG not sincerely interested in compromise, settlement

Attorneys for Reagor, Dykes ask for more time after Ford wants $109 million

RDAG files motion requesting mediation, McDougal agrees to participate

Ford wants $109 million from Bart Reagor and Rick Dykes

Reagor-Dykes files appeal in ruling allowing Ford’s relief request

McDougal Companies out of Reagor-Dykes restructuring plans

Continued Coverage

McDougal, Ewing Auto Group invited to ‘global settlement’ meeting about Reagor-Dykes Auto Group

RDAG approved to use additional cash collateral

Judge: Ford allowed to immediately repossess vehicles from RDAG lots

Judge rules Toyota can revoke Reagor-Dykes dealership

Court rules Ford Credit can repossess vehicles from Reagor-Dykes

Judge approves motion for interim financing in RDAG case

  Judge delays decision in Reagor-Dykes reorganization plan

Following five hours of testimony Tuesday, Judge Robert Jones announced he will make his decision on Reagor-Dykes' reorganization plan Wednesday afternoon.

Reagor-Dykes bankruptcy hearing

Right now, Reagor Dykes Auto Group is presenting its Chapter 11 plan to the court.

Ford attorneys: RDAG claims ‘reckless’ and ‘completely false’

In a legal reply filled with enough rebuttals for a scripted television drama, attorneys for Ford Motor Credit took issue with a number of claims by attorneys for Reagor-Dykes Auto Group Monday evening.

Reagor-Dykes Auto Group files reorganization plan

In a 60 page document filed Monday afternoon, Reagor-Dykes Auto Group submitted a plan of reorganization to the bankruptcy court.

RDAG response to Ford: ‘Reagor-Dykes is not dead, not out of money’

Ford files motion to remove their cars from Reagor-Dykes lots

Reagor-Dykes customers still caught in lawsuit

Reagor-Dykes Latest: MUSA Auto Finance wants defense team to release documents

Dealerships removed from Ford lawsuit against Reagor, Dykes

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

Reagor Dykes attorneys say they are working on TT&L hangups

Attorneys for Reagor Dykes' Chief Restructuring Officer say they are making progress on resolving a multi-million dollar issue of outstanding titles and trade-in amounts, but admit they are not moving at the speed many of the lenders would prefer.

McDougal-Dykes-Ewing group expect to buy RDAG assets

Marc McDougal is leading a group of local investors who expect to buy Reagor-Dykes Auto Group assets, according to sources. The bankruptcy judge and Ford Motor Credit will need to approve the buy, which did not happen today during a 2 p.m. hearing.

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

Shane Smith, the former Chief Financial Officer of Reagor-Dykes Auto Group, filed a motion in bankruptcy court to move the case involving First Bank & Trust vs. multiple Reagor-Dykes entities, and others. On November 27, that motion was denied.

Settlement reached in Vista Bank lawsuit against Shane Smith

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

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

Ninety-three days after the initial chapter 11 bankruptcy filing for six Reagor-Dykes Auto Group entities, attorneys for the business filed a petition for four more entities to be included.

Former attorneys for Reagor-Dykes seeking payment for their work

Lubbock law firm Mullin Hoard & Brown, L.L.P., the former attorneys representing Reagor-Dykes Auto Group and their seven subsidiaries has joined the growing number of groups seeking money from the once-ubiquitous dealership group.

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

Vista Bank filed a motion last week to try and recoup some of the money they claim to have lost from “bad checks” from Reagor-Dykes entities during their alleged multi-million dollar check kiting fraud.

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

Eighteen days ago, the Reagor-Dykes Auto Group attorneys asked the judge to grant a motion to compel retail lenders to pay outstanding tax, title and license fees and trade-in payoffs. Although there was no resolution in today’s hearing, more facts have been revealed about what is involved with thi

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

On Friday afternoon, Bart Reagor and Reagor Auto Mall both filed responses to the lawsuit.

Reagor-Dykes building put on foreclosure list

A building owned by the Reagor-Dykes Auto Group is on the Lubbock County foreclosure list and may be up for auction on Nov. 6.

Former Reagor-Dykes CFO denies allegations from Lubbock bank

Attorneys for Shane Smith, the former Chief Financial Officer for Reagor-Dykes Auto Group, have released a 28-page response by their client to allegations about his role in the ongoing bankruptcy involving the dealership.

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

Last week, the Reagor-Dykes Auto Group attorneys asked the judge to grant a motion to allow retail lenders to pay outstanding tax, title and license fees and trade-in payoffs. In a hearing today, the motion was pushed until Oct. 29 because a majority of the lenders are not yet on board.

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

Representatives with FirstCapital Bank of Texas have filed a counterclaim against First Bank & Trust and motion to dismiss in a lawsuit that alleges the FirstCapital kept at least $3 million from vehicles that were sold by Reagor Auto Mall.

Reagor-Dykes jet to be sold by lending company

The 1995 Cessna Citation Ultra owned by Reagor-Dykes since January 2017 will soon have a new home.

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

Attorneys for Ken and Brad Burgess, Chairman and Chief Executive Officer of FirstCapital Bank of Texas have asked the court to toss Vista Bank’s lawsuit brought related to the alleged check-kiting fraud perpetrated by Reagor-Dykes auto dealership, according to officials with FirstCapital Bank.

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

The letters to Reagor-Dykes Auto Group and 10 finance companies say there are approximately 100 complaints that the Texas DMV is currently fielding against the dealerships, mostly in regards to titling issues.

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

According to the lawsuit, in August 2018, FirstBank, began investigating the status of RAM’s inventory at its Levelland and Imports (the “Dealerships”) locations in an effort to monitor vehicle sales information and to identify whether RAM was falsely reporting sales data and inventory status. Throu

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

FirstCapital Bank made a motion to dismiss claims made by Vista Bank on Tuesday, saying they were a victim of “a check-kiting scheme perpetrated by Reagor-Dykes.”

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

A federal bankruptcy judge approved Reagor-Dykes Auto Group’s request to name KamKad Automotive as a “stalking-horse bidder” and to allow the competitive bid process to begin in RDAG’s bankruptcy case.

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

Ford, GM and Toyota have all objected to the proposed sale of Reagor-Dykes dealerships.

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.