RDAG: Victims of fraud can soon make claims for potential compensation
LUBBOCK, Texas (KCBD) - As part of the resolution of the Third Amended Chapter 11 Plan of Liquidation for Reagor-Dykes Auto Group, the Trustee is prepared to announce the chance for former Reagor-Dykes consumers to assert claims for compensation.
Following the confirmation of the liquidation plan, the Trustee has assumed responsibility for resolving remaining consumer grievances by issuing notices through the local newspaper and the mail.
According to the recent motion filed, Trustee and Ombudsman Dennis Faulkner has already been made aware of 1,100 complaints from consumers alleged to have arisen from vehicle sale or lease transactions that occurred between June 1, 2018 – July 31, 2018 at Reagor Auto Mall; Reagor-Dykes Auto Mall Downtown; Reagor-Dykes Direct Auto of Dallas; Reagor Auto Mall Imports; Reagor Auto Mall West Lubbock; and Reagor Auto Mall Levelland.
The Texas Attorney General’s Office notified Faulkner of around 300 other consumers who have submitted complaints alleged to have arisen from vehicle sale or lease transactions directly to the Texas AG
Notices are expected to go out to these consumers, as well as those known to have purchased vehicles from one of the RAM/Snyder Dealerships between September 1, 2018 and November 1, 2018.
When active, the consumer notice will direct people to a website with two documents: the Consumer Notice for customers who purchased vehicles from Reagor-Dykes, and a form for registering a claim against the “Consumer Ombudsman Fund.”
The Consumer Ombudsman Fund consists of 10% of all net litigation proceeds ear-marked up to $400,000, and $100,000 contributed by Rick Dykes as part of his settlement.
Consumers receiving notice of the opportunity to register their asserted claim will have until January 15, 2021, to submit a Consumer Claim Form by mail.
Further notice procedures will include ads in local newspapers directing those with claims to the consumer website.
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