Ford Not Ready to Settle With Reagor-Dykes
Ford Motor Credit said that they were not ready to settle with the Reagor-Dykes Auto Group in bankruptcy court on Thursday, August 29th.
Reagor-Dykes filed for bankruptcy back on August 1st of 2018 and faced allegations from Ford of fraud and default. Reagor-Dykes was also accused of fraud in the form of check kiting from several local banks. Only one person, former RD CFO Shane Smith, has been charged with a crime.
According to KAMC News, Don Cram, an attorney for Ford, said that there were still "deficiencies in a reorganization plan RDAG filed."
Judge Robert L Jones said that the court was uncomfortable moving forward with the plan based off just statements. He also added that there was clearly a feud between RD and Ford.
Reagor-Dykes attorneys have said that they are willing to re-file their reorganization plan, and Judge Jones said he will review it next week.