LUBBOCK, Texas (KCBD) - Wednesday’s update from attorneys for the Reagor-Dykes Auto Group in their ongoing bankruptcy hearing could be summed up in one word... progress.
Attorney Ashley Ellis, from the Dallas-based firm Foley & Lardner, joined in Judge Robert Jones’ courtroom by phone, updating the court on a number of motions that would be delayed until the June 19 or July 24 hearings.
But one item Ellis did tell the court is that since its April 26 approval, the agreement with Lubbock County to streamline the procedure for Tax, Title & License issues has gone exceedingly well.
Ellis said that since its official launch nearly 100 Lubbock County residents have been able to resolve title issues on vehicles that came from Reagor-Dykes dealerships.
The process, using the email email@example.com has also been helpful in resolving a number of lender issues that have existed since the August 1 bankruptcy by the auto group.
In addressing Judge Jones, Ellis said “Progress was slower than anyone wanted,” on resolution with the lenders, but “Progress has been made.”
She requested additional time to continue discussions with the lenders, mentioning that a number of them, including Toyota Motor Credit, were down to single-digit numbers when it came to how many title issues remained. “We continue to work cooperatively," Ellis said of their work.
One additional item that was discussed was an update on mediation with Ford. Ellis told Judge Jones that although the face-to-face meetings with Ford and the mediator in February were positive, there was no definitive action taken.
Ellis said now that they are through much of the ongoing TT&L issues, they have started mediation again. She also said that in addition to their mediation with Ford, Foley & Lardner are having discussions with General Motors on behalf of Reagor-Dykes.
Judge Jones asked Ellis if Ford had removed most if not all of their vehicles from Reagor-Dykes lots. She confirmed they had.
Ellis thanked the court and said she would have additional updates during the June 19 hearing. Judge Jones confirmed that hearing would take place at 1:30 p.m. that afternoon and recessed the court before returning to other items on the docket unrelated to Reagor-Dykes.