Reagor-Dykes court filings further explain what happened, condemn former CFO
LUBBOCK -- Documents filed this week in response to Ford Motor Credit Co.’s federal lawsuit against Reagor-Dykes Auto Group and its owners shed more light on what happened between the creditor and dealerships.
The defendants had until Friday morning to respond to claims they owe Ford over $113 million and violated contracts by selling vehicles out of trust and failing to pay charges when due. In separate filings, Bart Reagor denied the allegations, as did Rick Dykes, who cited he did not have sufficient information to respond otherwise.
The response filed by counsel for Reagor and the three dealerships states, “Ford Credit’s claims are barred by the doctrine of unclean hands.”
Previous court filings have suggested former Chief Financial Officer Shane Smith should be investigated for what led to the dealerships’ financial and legal issues. Smith made a “stunning disclosure” to Ford, Reagor and Dykes that he provided false financial information to the creditor, according to the response filed by Dykes’ counsel. RDAG promptly fired Smith.
Read more: http://www.lubbockonline.com/news/20180914/reagor-dykes-court-filings-further-explain-what-happened-condemn-former-cfo
