Reagor Dykes on Thursday afternoon filed a notice of appeal in its ongoing bankruptcy cases.
Specifically, RD companies will appeal the decision by United States Bankruptcy Judge Robert L. Jones to allow Ford Motor Credit Company to withdraw its vehicles from various RD dealership locations.
The bankruptcy court also removed certain bankruptcy protections from RD as they relate to local taxing agencies such as the Lubbock Central Appraisal District. That decision is also under appeal.
Specific legal grounds for the appeal have not been filed yet – only the notice of appeal.
The document filed Thursday said, “There is no Bankruptcy Appellate Panel, so the appellants elect review by the U.S. District Court.”
Also on Thursday, Marc McDougal said, “The McDougal Companies notified all parties involved that we are ceasing discussions in the Reagor-Dykes Auto Group bankruptcy.”
McDougal announced an effort in late 2018 to negotiate a deal for the purchase of RD dealerships. Before that, KamKad automotive group announced a bid to purchase the dealerships. Both deals have now fallen through.
RD companies began filing for bankruptcy in August. They are accused of fraud and default by Ford. Three local banks have also accused RD of a particular kind of fraud called check kiting.
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