LUBBOCK, Texas (KCBD) - A reorganization hearing in the Reagor-Dykes Auto Group bankruptcy case was scheduled to take place Thursday, July 11, but was rescheduled.
The hearing was scheduled for 9 a.m. in federal court, but around 9:45 a.m. litigators from both sides of the case walked into the courtroom and announced the hearing was rescheduled. The date has been set for Oct. 7, 2019 at 9 a.m.
Court documents from earlier this month show a reorganization group could have access to $14 million in “new equity infusion” to pay back debts and cover up attorney fees. That money will also be dispersed to creditors and banks that have claims against the RDAG.
That would include Ford Motor Credit and GM Financial.
KCBD will update its website when a hearing date is confirmed.