Liberty Capital Bank Files Objection Against Reagor Dykes
In Addison, Texas, Liberty Capital Bank has filed an objection against Reagor Dykes Auto Group in their ongoing bankruptcy case. The objection alleges that Reagor Dykes misused financing money provided by Liberty Capital Bank for a floor-plan at the Reagor-Dykes Auto-mall in Addison, Texas.
KAMC News reports that Liberty is also claiming that the financing funds have been traced to accounts held by First Capital Bank, but that the exact location of the money has not yet been determined.
Now, Liberty has requested the court not to allow Reagor Dykes to use any money given by Liberty for cash payments. The objected, filed in court on Monday, is yet another blow to the Reagor-Dykes brand, which has many companies under its wing.
Reagor-Dykes is due back in court on Thursday to discuss another batch of issues in their bankruptcy case. Liberty Capital Bank hopes that their objection will be discussed in detail.