Ford Credit still has objections to parts of Reagor-Dykes' proposed reorganization plan.
Days before the next scheduled hearing in the Reagor-Dykes bankruptcy case, a U.S. Trustee filed objection to the proposal to use cash collateral.
Senior U.S. District Judge Sam Cummings has set a trial date in determining what Bart Reagor owes to Ford Motor Credit.
International Bank of Commerce is suing Ford Motor Credit, claiming it had an advantage over other lenders. It claims Ford Credit did not inform any other parties of major fraud until it was too late to mitigate damages.
A hearing was scheduled in Lubbock Federal Court Thursday morning over how much Bart Reagor personally owes to Ford Motor Credit. The hearing has been postponed.
An administrative judge has assigned a new judge to oversee International Bank of Commerce Oklahoma's lawsuit against Bart Reagor and Rick Dykes.
99th District Court Judge Bill Sowder has recused himself from a lawsuit filed against Bart Reagor. A new judge will have to decide whether to expedite a decision on International Bank of Commerce Oklahoma's claims against him.
There is a date set for hearing the Reagor-Dykes Auto Group's disclosure statement, for its re-organization plan.
The Chapter 11 reorganization plan includes up to $14 million from an unnamed "plan sponsor," agreements with Ford, GM, and Toyota, new consulting services to ensure smooth operations, and payments to creditors.
A consulting and media firm has released statements on behalf of Bart Reagor, stating he had no knowledge of alleged fraud at his Auto Group.