Judge Orders Bart Reagor to Pay Back Ford Motor Credit
On Friday, a federal judge ordered Bart Reagor to pay Ford Motor Credit "all of the dealership's obligations" for his part in the failure of the Reagor Dykes Auto Group, as well as other related companies.
KAMC News reports that Rick Dykes agreed back in April to settle out of court with Ford for around $58 million, and it's presumed that Reagor will pay a similar amount.
Before Dykes had settled, he and Reagor argued that Ford had participated in things that led to the eventual downfall of Reagor-Dykes, and that Reagor and Dykes were not responsible for a written personal guaranty.
However, the judge said the he didn't believe Ford lost its rights under the guaranty. He said that there are no genuine issues of fact that would prevent Ford from getting its money back.
Ford has until June 3rd, 2019 to list the amount that Reagor owes, and Reagor has 14 days after that to object.