Unless the two sides reach a settlement, don’t expect a resolution soon in the lawsuit between Ford Motor Credit Company and Reagor Dykes (RD).
A judge on Friday set out the schedule for the lawsuit.
A list of motions will be due on January 15, 2019. Another list of motions will be due by September 16, 2019 and yet another set will be due by January 13, 2020.
“The above case is set for trial at 9:00 a.m. on February 3, 2020,” an order from Senior United States District Judge Sam Cummings said.
Deadlines will not be extended except for good cause, the order said.
Some but not all RD companies filed for bankruptcy on August 1. The companies in bankruptcy are not part of the ongoing lawsuit.
Three RD companies, Bart Reagor, and Rick Dykes are not currently in bankruptcy. The lawsuit can proceed against them.
Ford Motor Credit Company accused RD of defaulting on $40 million of debt. Initially Ford said in court records that the total debt was $116 million. More recently, court records said the total owed to Ford by RD was $113 million.
Bart Reagor responded to Ford in court records on Thursday. He claims Ford failed to exercise ordinary care.
Rick Dykes also responded to Ford in court records on Thursday. He claimed that after Ford’s allegations, former Chief Financial Officer Shane Smith admitted to providing false information. Smith was fired, according to Dykes’ response in court records.
Smith has not responded to invitation to comment. Meanwhile, the bankruptcy case continues. A possible bidder had been found to purchase RD dealerships for more than $25 million.
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