LUBBOCK, TX (KCBD) - 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.
Bankruptcy rules allow 14 days for entities to submit schedules, statements and other financial documents to a bankruptcy court. RDAG filed the petition for relief under chapter 11 of title 11 -- the Bankruptcy Code -- on Aug. 11, and the petition to extend the deadline comes three days before documents should be submitted to the court.
The company submitted the request because of the volume and work necessary to gather paperwork needed, according to court documents.
"The information needed for filing each set of Schedules for the Debtors is voluminous, and although (Reagor-Dykes Auto Group) are working to gather the necessary information, demands from the major secured creditor for records and information at the same time is stretching the resources of the Debtors who are able to assist in gathering the appropriate information necessary to prepare all of the Schedules required by the Bankruptcy Code and Rules," court documents stated.