- Despite ongoing lawsuits, Radford Motors insists it remains committed to producing the Type 62-2 for customers.
- A Florida surgeon paid a $750,000 deposit for the Type 62-2 Pikes Peak but is reportedly still waiting for delivery.
- Radford Motors says it aims to restructure its business operations through Chapter 11 bankruptcy proceedings for financial stability.
Things keep going from bad to worse for Radford Motors. Barely after the company that was co-founded by TV personality and mechanic Ant Anstead, filed for Chapter 11 bankruptcy, it’s now being sued by multiple clients who put down sizeable deposits but are still waiting for their cars to materialize.
One such lawsuit, filed in July 2024, involves Florida surgeon Scott Katzman and Lamborghini Palm Beach. The luxury car dealership claims it paid $300,000 for a street-legal Lotus-Radford Type 62-2 and sent an additional $750,000 on behalf of Katzman for a track-only Type 62-2 Pikes Peak model back in August 2023. That’s over a million dollars sent Radford’s way, with not a single car delivered in return.
According to the suit, the parties allege that Radford repeatedly delayed the delivery dates of the vehicles, before ultimately proposing “a repayment schedule.” By the time the lawsuit was filed, neither car had been delivered, nor had any refund been provided, People reports.
Another prospective customer is also suing Radford. Timothy Tasker provided Radford with a $101,000 deposit for a Type 62-2 in May 2022, and while meeting with Anstead, as well as co-founder Jenson Button, Tasker says he was told the first deliveries would begin in late 2022 and continue throughout 2023. However, Tasker decided he wanted his money back in October 2023 due to “a lack of progress.”
Tasker alleges that Radford “understood” his concerns and said he would be provided with a full refund. However, the firm has since left his calls and emails unanswered and he is still yet to receive his deposit back.
Anstead hasn’t responded directly to the lawsuits, but on October 24, said he remains “fully committed” to the company. On October 29, the firm revealed that it had obtained approval for “financing to fund operations,” and that it continues efforts to restructure through Chapter 11.
In March, Radford business partner Pastor Velasco filed a lawsuit against Anstead and co-founder Daniel Bednarski, claiming he’s owed over $2 million. Radford co-owned Roger N. Behlr Jr. has also filed a lawsuit, alleging that Anstead and co-founder Daniel Bednarski have mismanaged company funds.
“The company has been in court five times already to address these civil suits, and every time to date, the judge has cited insufficient evidence for these claims of mismanagement and fraud, which have been dismissed and then appealed, repeatedly,” Bednarski told Autoweek. “The debt restructuring allows us to move forward with changes in ownership in a way that allows us to continue operating our day-to-day business.”
Anstead maintains that the company remains committed to developing, building, and delivering the Type 62-2 to customers.
“As people leading this company, we understand the unique challenges that come with building a premium car brand, including the importance of having partners whose values and vision align completely with our mission,” he stated. “Like many entrepreneurial ventures, our journey has presented both opportunities and challenges. We are grateful for the continued support from our community and remain fully dedicated to advancing the brand’s prestigious heritage.”
