Reagor Dykes Coverage

RDAG proposes $13 million reorganization plan to re-establish dealerships

A second reorganization plan has been submitted to a federal bankruptcy court that would allow a Reagor-Dykes Auto Group plan sponsor $13 million for re-organizational operating costs. This has yet to be approved by the court.

Reagor-Dykes submits reorganization plan ahead of July 11 hearing

  Bart Reagor breaks silence on fraud allegations: “I had no idea”

Attorneys for Reagor-Dykes hope reorganization plan to be finalized by September

Former Reagor-Dykes CFO Shane Smith to be sentenced in October

  Shane Smith, former Reagor-Dykes CFO, pleads guilty to wire fraud

Court date set for Reagor-Dykes damages settlement, though Reagor disputes amount owed

Continued Coverage

Reagor: We’ve paid Vista Bank back

Auction of hundreds of Reagor-Dykes items set for Saturday

Ford: Reagor owes $7,000 a day in interest

  Judge denies objection, rules Reagor must repay Ford Motor Credit

RDAG Attorneys: progress made in TT&L isssues

IBC files petition against Reagor Dykes, seeking $26 million

State suing Reagor,Dykes for dealership sales taxes

The State of Texas is now involved in the ongoing legal chaos surrounding the former Reagor-Dykes Auto Group.

Reagor-Dykes creates new portal for customers with TT&L issues

Friday afternoon KCBD learned that in the first week of the portal being online, the Lubbock Tax Assessor-Collector’s office has processed 31 titles for former Reagor-Dykes customers.

  Sales tax, title relief now possible after Reagor-Dykes judgment

Judge Robert Jones agreed on a motion Wednesday that would eliminate the sales tax for Reagor-Dykes Auto Group customers in Lubbock County that are in the vehicle registration process.

Bart Reagor, wife deny $2.4 million breach of contract complaint

Bart and Annette Reagor are demanding a trial by jury on all matters that may be tried. They’re also asking the judge to dismiss Universal’s complaint. Bart and Annette are also asking for the recovery of their costs and attorneys’ fees and for “further relief to which they may be justly entitled.”

No resolutions in RDAG hearing, though attorneys say they are making progress in TT&L issues

Rick Dykes agrees to a $58 million judgment

  Universal Underwriters sue Bart Reagor, wife for more than $2.4 Million

  Rick Dykes reveals corruption, secrets, affairs within RDAG in witness statement

  Some Reagor-Dykes Auto Group customers still stuck in limbo after agreement filing

  Reagor-Dykes Customer Relief? TT&L issues may be resolved soon

  Hundreds of Reagor-Dykes customers still fighting for tags, vehicle registrations

As the ongoing bankruptcy hearings for the Reagor-Dykes Auto Group drag into their eighth month, hundreds of customers remain trapped between the auto group and their local tax collector’s office.

Judge rules AimBank can sell RDAG CDs to pay outstanding checks

Judge Robert Jones has ruled an agreement between Levelland-based AimBank and two Reagor-Dykes dealerships can move forward despite objections from GM Financial.

  Vista Bank files civil suit against Bart Reagor for $1.45 million

Vista Bank has filed a civil lawsuit in Lubbock County court against Bart Reagor saying he is personally in default $1,448,401.23 on a loan, because he signed a personal guarantee on the note.

RDAG ordered to pay $349k in rent by tomorrow for Mitsubishi location

Eighty Second Street Investments LLC and Lubbock Windmill Real Estate LLC have filed court documents that orders the Reagor-Dykes Auto Group to pay up or move out.

GM Financial allowed to reclaim vehicles from Reagor-Dykes

GM Financial will soon be able to take back cars, trucks and SUV’s currently sitting on Reagor-Dykes Auto Group dealership lots.

  Dykes Affidavit: “Ford Credit knew or should have known”

Rick Dykes lays the blame for the collapse of his dealership group at the feet of Shane Smith, Ford Motor Credit, and Ford employee Gary Byrd.

Mediation scheduled for Ford, Reagor-Dykes in Dallas

The time and place for mediation between Ford Motor Credit and Reagor-Dykes Auto Group has been set, and now KCBD has learned one interested party will no longer be in attendance.

  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.

  Reagor-Dykes ordered to leave 82nd Street location

Eighty Second Street Investments LLC and Lubbock Windmill Real Estate LLC have filed court documents that ordered the Reagor-Dykes Auto Group to vacate its Mitsubishi dealership on 82nd Street.

Ford objects to motion for RDAG global mediation

Ford Motor Credit Company LLC filed a motion Thursday morning objecting to Reagor-Dykes Auto Group’s motion to compel global mediation.

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

FirstBank & Trust officials filed a response in opposition to Reagor Dykes Auto Group’s motion to compel global mediation in their bankruptcy case on Wednesday.

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

Attorneys for Bart Reagor and Rick Dykes are asking a district court to grant more time to find evidence disproving Ford Motor Credit’s claim that both Reagor and Dykes had a direct hand in committing an act of fraud.

RDAG files motion requesting mediation, McDougal agrees to participate

Attorneys with Reagor-Dykes Auto Group have filed an emergency motion to compel global mediation involving the McDougal Group.

  Ford wants $109 million from Bart Reagor and Rick Dykes

In court documents filed on Feb. 4 in civil court, Ford Motor Credit wants Bart Reagor and Rick Dykes to pay $109,091,460.95 following a “massive fraud” which happened on Reagor and Dykes' watch.

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

On Jan. 17, Judge Robert Jones cleared the way for Ford Motor Credit to take back vehicles sold to Reagor-Dykes Auto Group. In a late afternoon filing on Jan. 31, officials with Reagor-Dykes Auto Group filed an appeal with the bankruptcy judge.

  McDougal Companies out of Reagor-Dykes restructuring plans

In a surprising move from McDougal Companies, officials sent a news release saying they’re “ceasing discussions in the Reagor-Dykes Auto Group bankruptcy.”

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

McDougal Companies has been invited to Dearborn, Michigan by Ford Motor Credit to attend a “global settlement” meeting. Ewing Auto Group out of the Dallas area has also been invited. The meeting is to discuss and possibly solve problems related to the bankruptcy of Reagor-Dykes Auto Group.

RDAG approved to use additional cash collateral

Attorneys for Reagor-Dykes Auto Group were back in federal bankruptcy court Wednesday on a number of matters related to the dealership group’s ongoing bankruptcy case.

Judge: Ford allowed to immediately repossess vehicles from RDAG lots

Court documents filed today say the bankruptcy judge has granted Ford Motor Credit the ability to immediately repossess their vehicles from Reagor-Dykes Auto Group.

Judge rules Toyota can revoke Reagor-Dykes dealership

On the same afternoon attorneys for Reagor-Dykes Auto Group learned a Lubbock bankruptcy judge will allow Ford Motor Credit to repossess vehicles, attorneys also learned Gulf States Toyota can sever their agreement with the auto group’s Plainview Toyota dealership.

  Court rules Ford Credit can repossess vehicles from Reagor-Dykes

Judge Robert Jones has cleared the way for Ford Motor Credit to take back vehicles sold to Reagor-Dykes Auto Group. In the ruling Thursday, Judge Jones approved Ford’s relief request from the automatic stay motion filed eight days after Reagor-Dykes' initial bankruptcy.

Judge approves motion for interim financing in RDAG case

In a federal courtroom filled with mostly attorneys and members of the media, Judge Robert Jones approved Reagor-Dykes' request for immediate use of cash collateral to continue operating.

  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’

"Contrary to Ford Motor Credit Company LLC’s (Ford Credit) assertion that ‘there is no prospect for a reorganization,’ Reagor-Dykes is not dead. Reagor-Dykes is not out of money. Reagor-Dykes is not without a plan to restructure its debts and recapitalize its business."

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

In a motion filed Friday in Lubbock’s bankruptcy court, the company asks that they be allowed to take back cars and trucks sold to Reagor-Dykes on credit.

  Reagor-Dykes customers still caught in lawsuit

Many customers still find themselves in the middle of the ongoing lawsuit involving Reagor-Dykes Auto Group. After six months, one finds herself still paying for her current car, and the one she traded in.

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

Auto Retail Lender files a motion to request information from Reagor-Dykes amid bankruptcy proceedings.

Dealerships removed from Ford lawsuit against Reagor, Dykes

Ford Motor Credit is no longer pursuing their lawsuit against the Reagor Dykes Auto Group. But the suit is still ongoing against the two owners of the dealership conglomerate, Bart Reagor and Rick Dykes.

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

After combing through court documents and removing duplicate claims from dozens of creditors in the case for the original six Reagor-Dykes Auto Group locations where the deadline has passed to make a claim, the total dollar amount comes to more than $163.6 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.