On Friday, the Reagor Dykes companies filed hundreds of pages of financial disclosures in bankruptcy court.
The bottom line is that so far there are $35,362,231.72 more in debts than assets.
The deficit assumes that Bart Reagor and Rick Dykes collectively pay back $6,970,546.00 in personal notes. Otherwise, the shortfall would be that much higher.
The deadline to file claims against Reagor Dykes was listed as December 5. So, the numbers are subject to change as the bankruptcy case progresses.
A list of Reagor Dykes companies filed for bankruptcy on August 1 after Ford Motor Credit Company made allegations of default. Ford claimed that Reagor Dykes was in default by roughly $40 million.
Ford also claimed that Reagor Dykes engaged in wide-scale fraud by forging purchase dates and double-financing vehicles.
The following is a summary of assets and liabilities for each Reagor Dykes company that filed records on Friday. (see image below).
The numbers below for “all property” and “total liabilities” come directly from court records. EverythingLubbock.com used a spread sheet to add up the totals and calculate the bottom line.
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