IRS creditor in Reagor-Dykes bankruptcy case

IRS creditor in Reagor-Dykes bankruptcy case

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LUBBOCK, Texas -

You can add the Internal Revenue Service to the long list of parties involved in the Reagor-Dykes bankruptcy case. Court documents filed Friday now show the IRS as a creditor and a party in interest.

Ford Motor Credit filed suit against the Reagor-Dykes Auto Group July 31. The next day several, but not all, Reagor-Dykes companies filed for bankruptcy protection. This effectively put Ford Credit's lawsuit on pause for those companies that filed for protection. Court documents filed recently show the remaining Reagor-Dykes companies as well as owners Bart Reagor and Rick Dykes may soon file for bankruptcy protection.

On Aug. 31 counsel for the Texas Comptroller's Office filed notice of appearance in this case. Like the IRS's notice, it requests all documents filed in the case to be forwarded to it.

At a court hearing Aug. 30 attorneys for these entities addressed the judge, making it known they were present: Liberty Capital Bank, International Bank of Commerce, Gulf States Toyota, Online Vehicle Exchange/Manheim, Universal Underwriters, Midland County, Midland County Central Appraisal District, Floyd Central Appraisal District, Vista Bank, Texas Lone Star Auto Auction, Mullin Hoard & Brown. Additional representatives listened by phone, though they did not identify themselves during the hearing.

TUE: Reagor-Dykes Auto Group establishes process to resolve customer problems
AUG. 31: International Bank of Commerce asks for court to allow it to foreclose on Reagor-Dykes dealerships
AUG. 31: More Reagor-Dykes companies, co-owners may soon file for chapter 11
AUG. 30: Court extends Reagor-Dykes employment of CRO; officer discusses potential dealership buyers
AUG. 29 : International Bank of Commerce asks for loan payment in Reagor-Dykes case
AUG. 29: Ford Credit objects to Reagor-Dykes earlier legal team
AUG. 27: Vista Bank doubles relief request in new federal suit against FirstCapital Bank
AUG. 25: Reagor-Dykes chief restructuring officer hires new legal team
AUG. 25: GM proceeding with termination of Reagor-Dykes Floydada
AUG. 23: Landlords demand rent for Reagor-Dykes dealerships in Lubbock, Plainview
AUG. 20: Ford Credit moves ahead with suit against Reagor, Dykes, some R-D companies
AUG. 18: Reagor-Dykes bankruptcy case: Read court order following Aug. 16 hearing
AUG. 17: Auto dealer claims Reagor-Dykes owes $513,000, vehicles may be in consumers' possession
AUG. 16: Vista Bank sues FirstCapital for $6 million, claims Dykes helped perpetrate check kiting scheme
AUG. 16: Bankruptcy court allows Reagor-Dykes continued use of cash collateral, hiring of CRO
AUG. 15: Reagor-Dykes Auto Group issues written apology
AUG. 14: Loss of Reagor-Dykes Chevrolet in Floydada a potential financial pitfall for city
AUG. 14: Vehicle auction company claims Reagor-Dykes owes it $687,000
AUG. 14: Ford Credit claims Reagor-Dykes is not following court orders; court grants extension to file docs
AUG. 13: U.S. Trustee opposes Reagor-Dykes request to hire chief restructuring officer
AUG. 10: Ford Credit: Reagor-Dykes fraud may be among largest of its type in U.S. history; GM files to terminate Floydada dealership
AUG. 9: Reagor-Dykes questions former CFO’s actions; Contractor claims $700,000 due now
AUG. 7: Former Reagor-Dykes employees claim they were not paid
AUG. 6: Customers concerned over Reagor-Dykes 'unwinding' process
AUG. 6: Ford suit against Reagor-Dykes on hold while bankruptcy case proceeds
AUG. 3: Judge approves Reagor-Dykes employee pay
AUG. 2: Mayor: Downtown Lubbock growth to remain strong regardless of Reagor-Dykes future
INITIAL STORY: Ford Motor Credit sues Reagor-Dykes; R-D files for chapter 11 bankruptcy

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