AGX sues R&R, Huntington over frozen credit line, unpaid carrier invoices

Jacksonville-based AGX Freight has accused R&R Family of Cos., CEO Richard “Rich” Francis and Huntington National Bank of stripping the institution of moving superior and pushing it into insolvency, according to recently filed lawsuits tied to the increasing illness of the Pittsburgh logistics group.

The litigation marks the latest escalation successful the widening fallout surrounding R&R Family of Cos. and its affiliated entities, including R&R Express, RFX and GT Logistics, which collectively employed hundreds of workers and worked with thousands of carriers earlier operations unraveled earlier this year.

In 1 suit filed April 10 successful the U.S. District Court for the Western District of Pennsylvania, Huntington National Bank sued AGX-related entities, alleging they remained jointly liable nether an $85 cardinal revolving recognition installation shared with different R&R-affiliated borrowers.

The slope alleged AGX entities defaulted aft lenders stopped backing advances successful precocious 2025 amid worsening fiscal conditions crossed the R&R group.

Huntington alleged the defaults included missed indebtedness payments, nonaccomplishment to timely wage carriers, the transportation of existent property tied to different R&R borrower and written admissions from co-borrowers that they were incapable to wage debts arsenic they came due.

The ailment states much than $12 cardinal remained outstanding connected the operating loans arsenic of April 9.

However, AGX entities responded with a abstracted suit filed successful Florida authorities tribunal accusing R&R Express Holdco, Francis and Huntington Bank of improperly exhausting AGX’s borrowing capableness nether the shared revolving recognition structure.

Related: R&R Family of Cos. faces uncertainty amid exec departure, outgo concerns

According to the complaint, AGX alleges that contempt maintaining abstracted accounting and operational controls, it mislaid entree to moving superior aft Huntington froze advances tied to defaults elsewhere wrong the broader R&R lending group.

The Florida ailment alleges AGX and R&R were co-borrowers nether the aforesaid revolving recognition agreement, but claims failures tied to R&R and Francis depleted AGX’s nett borrowing capableness and yet forced the Jacksonville brokerage to cease operations.

AGX further alleges the shutdown near astir $3 cardinal owed to autarkic centrifugal carriers hauling freight connected the company’s behalf.

The lawsuits connection 1 of the clearest nationalist glimpses yet into however the fiscal distress wrong R&R Family of Cos. dispersed crossed affiliated entities tied unneurotic done a shared asset-backed lending facility.