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TexasTowelie

(112,690 posts)
Tue Feb 5, 2019, 06:07 AM Feb 2019

Ford Credit opposes Reagor, Dykes request for discovery time

LUBBOCK -- Ford Credit opposed a motion by Rick Dykes and Bart Reagor requesting more discovery time and a delay of summary judgment in their ongoing civil lawsuit.

In January, Ford Credit filed a motion in district court for summary judgment - meaning the case would not go through a full trial - citing enough evidence of fraud for a ruling in the creditor’s favor. The lender is looking to hold Dykes and Reagor accountable because they are the ones who signed binding contracts, according to court documents.

Principals Rick Dykes and Bart Reagor responded by asking for time to get facts straight. The court had previously set a September 2019 deadline for summary judgment, and a January 2020 discovery deadline. They assert there is more to the story between Ford Credit and former Reagor-Dykes Chief Financial Officer Shane Smith.

In the newest documents filed on Monday, Ford Credit states the defendants have not filed any discovery requests for Ford Credit to fulfill, even though they have had the opportunity to do so since September. The creditor contradicts the notions put forth in the defendant’s motion, calling it “vague speculation.”

Read more: https://www.lubbockonline.com/news/20190204/ford-credit-opposes-reagor-dykes-request-for-discovery-time

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Ford Credit opposes Reagor, Dykes request for discovery time (Original Post) TexasTowelie Feb 2019 OP
Vista Bank sues Reagor for defaulted payments TexasTowelie Mar 2019 #1

TexasTowelie

(112,690 posts)
1. Vista Bank sues Reagor for defaulted payments
Mon Mar 4, 2019, 05:07 AM
Mar 2019

Vista Bank filed a lawsuit against Reagor-Dykes Auto Group co-founder Bart Reagor in Lubbock County district court Friday, claiming he defaulted on a personal guarantee.

The 2017 promissory note for $3 million lists several events that constitute an event of default, including failure to make any payment when due under the promissory note and bankruptcy proceeding by or against the borrower. Eleven entities of Reagor-Dykes Auto Group filed for bankruptcy last year.

Reagor, former chief executive officer of Reagor-Dykes Auto Group, is listed as the guarantor on the note, according to the lawsuit.

A news release from the Bustos Law Firm, which is representing Vista Bank and filed the lawsuit, states the court proceeding became a necessary step in recovery. The law firm expects a “speedy judgment.”

https://www.amarillo.com/news/20190301/vista-bank-sues-reagor-for-defaulted-payments/1

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