LUBBOCK, Texas — International Bank of Commerce (IBC) filed garnishments in Lubbock County with four banks against Bart Reagor. The garnishments – requested on February 12 and filed in State District Court on Wednesday – are related to a lawsuit IBC filed against Reagor after Reagor Dykes filed for bankruptcy.
Court records said IBC won a judgement against Mr. Reagor for $23,865,778.48 in April 2020. The original lawsuit was for unpaid loans. Reagor Dykes borrowed money and Mr. Reagor acted as a personal guarantor of the loans, according to the lawsuit.
A number of former Reagor Dykes employees pleaded guilty to federal crimes related to the collapse of the company. So far, Reagor has not been charged with a crime. But he has been the subject of lawsuits and judgments – including a court order to repay Ford Motor Credit Company $49.2 million.
The four banks ordered to garnish Reagor’s bank accounts were: Lubbock National Bank, Aim Bank, Prosperity Bank and Wells Fargo. They were ordered to not let have Reagor have any money from his accounts or any money owed to him by those banks.
Court records do not yet reflect how much money is in the various accounts.