Judge orders TT&L lists turned over to creditor, others request info
An ongoing issue for multiple creditors in the Reagor-Dykes bankruptcy is access to titles or other documentation, according to various court documents and comments made by lenders' counsel during court hearings.
Now the bankruptcy judge has ordered Reagor-Dykes to provide documentation to MUSA Auto Finance and MUSA Auto Leasing, related to vehicles it financed, leased or otherwise processed. The order lists some specific vehicles, but also includes other vehicles involving MUSA with unresolved tax, title and license or trade-in liens.
The documentation, either titles or other related information, is needed to try to resolve TT&L or trade-ins.
In previous hearings, Reagor-Dykes counsel said documentation was in such disarray when the chief restructuring officer took over day-to-day operations, it has been an ordeal to organize. Further, counsel has said the bankruptcy proceedings have been so time-consuming it has limited manpower available to track down titles, vehicles lists or other documents for hundreds of unresolved transactions.
In related action, U.S. Bank filed a motion requesting a hearing to for a similar order related to 79 vehicles Reagor-Dykes sold to U.S. Bank customers. These customers still have unresolved TT&L or trade-in liens, preventing them from registering vehicles.