Ford Claims Bart Reagor and Rick Dykes Owe Them $100 Million
Ford Motor Credit filed documents on Monday claiming that Bart Reagor and Rick Dykes personally owe the company more than $100 million.
Long before the Reagor-Dykes companies collapsed, both Reagor and Dykes signed contracts with Ford, which include a personal guarantee. Both men promised to take responsibility if their dealerships could not pay back debt to Ford.
This guarantee is the primary basis of Ford's claim against the two.
Back in January, Reagor and Dykes filed a motion claiming there might be evidence that Ford contributed to the downfall of the Reagor-Dyke companies. Ford claims that the two cannot prove that Ford participate in fraud.
Ford asked that it be allowed to have a summary judgement, which would order Reagor and Dykes to pay the collective $109,091,460.95 without taking the lawsuit to trial.