AGX Freight Sues R&R Family and Huntington Bank Over Frozen Credit Line
Legal filings reveal a complex dispute over an $85 million revolving credit facility, with AGX Freight accusing R&R Family of Cos. and Huntington National Bank of depleting working capital, while the bank counters with claims of joint liability and default.
Jacksonville-based AGX Freight has initiated legal proceedings in Florida state court against R&R Family of Cos., its CEO Richard Francis, and Huntington National Bank. The lawsuit alleges that the defendants improperly exhausted the company’s borrowing capacity under a shared $85 million revolving credit facility. AGX contends this action froze advances and depleted working capital, forcing the brokerage to cease operations and leaving approximately $3 million in unpaid invoices to independent motor carriers.
The litigation represents a significant escalation in the financial collapse of the Pittsburgh-based R&R group. In a separate complaint filed on April 10 in the U.S. District Court for the Western District of Pennsylvania, Huntington National Bank sued AGX-related entities. The bank alleges that AGX defaulted on the shared facility and remains jointly liable for the debt. Huntington stated that more than $12 million remained outstanding on operating loans as of April 9, citing missed debt payments and a failure to pay carriers on time as key indicators of default.
AGX’s Florida complaint accuses R&R Express Holdco, Francis, and Huntington of stripping the company of liquidity and pushing it into insolvency. The brokerage argues that despite maintaining separate accounting and operational controls, it lost access to funds after Huntington froze advances tied to defaults elsewhere within the broader R&R lending group. AGX maintains that it operated responsibly and managed its own borrowing base independently before losing access to capital due to problems in other parts of the R&R structure.
Huntington’s federal complaint outlines specific defaults, including the transfer of real estate tied to another R&R borrower and written admissions from co-borrowers that they were unable to pay debts as they came due. The bank alleges that AGX entities defaulted after lenders ceased funding advances in late 2025 amid worsening financial conditions across the R&R group. The legal filings highlight the complex web of ownership and financing relationships, noting that R&R Express Holdco owned 60% of AAGEX Freight Group, AGX’s parent company, while former AGX executive Mike Williams held the remaining 40%.
The dispute offers a clear view of how financial distress within R&R Family of Cos. spread to affiliated entities through a shared asset-backed lending facility. AGX and R&R were co-borrowers under the same revolving credit agreement, creating a scenario where failures by one party impacted the liquidity of the other. The AGX litigation follows several other lawsuits tied to the R&R collapse, including claims by Jimenez Logistics and Vantage Carrier over unpaid freight invoices and outstanding debt obligations.
