The estate of Jack Morris on Tuesday filed a request to remove Reagor Dykes once and for all from a particular property in Plainview.
What used to be Jack Morris Ford Lincoln Mercury, Inc was purchased by the Reagor Dykes companies in 2010. The estate of Jack Morris has been the landlord.
Reagor Dykes companies filed for bankruptcy starting on August 1 and the complaint from the estate said, among other things, the rent is past due.
But there’s a bigger problem described by the estate. The property is losing its value because Reagor Dykes left it in a state of “extreme despair.”
Pictures were included in the court record.
“The Plainview Ford Dealership has been abandoned,” the newest court records said. “There are no ongoing motor vehicle dealership operations there.”
“The Plainview Ford Dealership premises have otherwise been left in a shambles,” the estate of Jack Morris said. “It makes no economic sense whatsoever for any of the Debtors (who are effectively out of business) to attempt to assume the Plainview lease.”
In order to make things right, Reagor Dykes would need to pay the rent, reimburse the landlord for legal fees, and pay for repair or refurbishment of the property.
The estate said in part, “As the motion was filed, there was no authorized motor vehicle dealer occupying or operating a dealership within the Plainview Ford Dealership, and there is no viable alternative. Vague hopes of a white knight and inherently unconfirmable plans do not constitute adequate assurance.”
In November, a prospective buyer – namely KamKad Automotive Group – was announced in court records, but the deal fell through. The proposed McDougal-Dykes-Ewing put a proposal on the table but that deal also fell through.
Ford accused Reagor Dykes of default and fraud. Numerous lawsuits are still pending concerning the fall of Reagor Dykes including banks suing each other.
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