![Amended Reorganization Plan for Reagor-Dykes Filed](http://townsquare.media/site/192/files/2018/08/reagor-dykes-lubbock1.png?w=630&h=420&zc=1&s=0&a=t&q=89&w=980&q=75)
Amended Reorganization Plan for Reagor-Dykes Filed
The Reagor-Dykes companies have filed an amended reorganization plan in bankruptcy court.
The plan makes it clear that if reorganization plans fail then the next option is to liquidate what's left of Reagor-Dykes.
The proposal says that the Reagor-Dykes dealerships or locations will be operated on the same real estate where they were operated prior to and during the bankruptcy case. The dealerships will also be recapitalized by the Plan Sponsor or its designee.
The plan sponsor has yet to be fully disclosed but the Fin Ewing Group will be providing consulting services.
The plan sponsors will own 90% of the reorganized company and 10% of the reorganized company will be owned by a creditors trust.
According to KAMC News, reorganized debtors will received up to $14 million in cash and financing from the plan sponsor to be used for working capital and to pay allowed claims.
Ford will get $2 million plus a $5 million promissory note for its unsecured debt.
GM will get $1.5 million for its unsecured debt.
More From News/Talk 95.1 & 790 KFYO
![Old Reagor-Dykes Lot in Lubbock, Texas Finds New Tenant](http://townsquare.media/site/157/files/2022/07/attachment-IMG_3107.jpg?w=980&q=75)
![Bart Reagor’s Family Speaks Out as He Reports to Jail: It’s a ‘100 Percent Wrongful Conviction’](http://townsquare.media/site/190/files/2019/03/BartReagor.jpg?w=980&q=75)
![Now Bart Reagor’s Wife Is Suing FirstCapital Bank for $22 Million](http://townsquare.media/site/157/files/2022/04/attachment-Annette-and-Bart.jpg?w=980&q=75)
![Here Are 5 Fun Things That Bart Reagor Can Do in Lubbock Before He Goes to Jail](http://townsquare.media/site/190/files/2022/04/attachment-Reagor-at-Joyland-2.jpg?w=980&q=75)
![Following Sentencing, Bart Reagor Officially Files Appeal](http://townsquare.media/site/192/files/2021/11/attachment-bartReagorOusideCourt1280_03.jpg?w=980&q=75)
![Bart Reagor Receives 14-Year Prison Sentence: Watch Him Leave Court](http://townsquare.media/site/192/files/2021/11/attachment-bartReagorOusideCourt1280_03.jpg?w=980&q=75)
![Days From Sentencing: Will Bart Reagor Flee?](http://townsquare.media/site/192/files/2019/07/BartReagor_KAMC.jpg?w=980&q=75)
![One Month Out From Sentencing, Bart Reagor Hires New Attorneys](http://townsquare.media/site/192/files/2022/02/attachment-Reagor-and-Markham.jpg?w=980&q=75)
![Former Reagor-Dykes CFO Shane Smith Receives 7-Year Prison Sentence](http://townsquare.media/site/192/files/2019/06/shaneSmith720_1536761715385_55101820_ver1.0.jpg?w=980&q=75)