LUBBOCK, Texas (KAMR/KCIT) – Reagor-Dykes Auto Group owner Bart Reagor, and Annette Reagor, have been ordered to pay over $2.7 million after a complaint was filed by Universal Underwriters Service Corporation, according to court documents.
Signed in the Lubbock Division of the Norther District of Texas US Court on June 7, Judge Sam R. Cummings ordered that the “Plaintiff is entitled to an amount of $2,715,760, plus pre-judgement interest, post-judgement interest, as well as attorneys’ fees and costs in the amount of $38,560.”
Originally filed in 2019, the complaint submitted by Universal Underwriters Service Corporation (Universal) said that the Bart and Annette Reagor breached a contract by failing to pay debts and other amounts owed.
The complaint filed said that Reagor-Dykes Auto Company dealers entered multiple agreements with Universal throughout 2016 and 2017 including a Master Dealer agreement, a Loan agreement, and a Personal Guaranty.
Universal described in the complaint that Reagor-Dykes filed for bankruptcy in August 2018, following a separate lawsuit from Ford Motor Credit Company, LLC. This left Reagor-Dykes with an outstanding amount owed, and guaranteed to be paid, to Universal.
Universal also claimed Reagor-Dykes was obligated to reimburse the company for damages because of the contract breach, as well as attorneys’ fees, after Reagor-Dykes failed to pay amounts owed through the different contracts after multiple claim attempts by Universal in 2018 and 2019.
After Court’s Orders were given on May 10 and June 2 of 2021, Bart Reagor and Annette Reagor were officially ordered to pay Universal collected debt and damages on June 7.
In a separate and ongoing story, Bart Reagor appeared in federal court in April and plead not guilty to grand jury charges of bank fraud that originated in 2018 after the previously mentioned Ford lawsuit.
Bart Reagor has consistently maintained his innocence in the federal case, with his attorney claiming, “He was deceived by people that he trusted and relied upon, and in turn, those people stole from him and others and caused the implosion of his business.”
Before Bart Reagor was indicted, 15 former Reagor-Dykes Auto Company employees pleaded guilty.
While the Universal lawsuit is separate, Bart Reagor’s criminal case is pending.
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