Arkansas Razorbacks coach John L. Smith now lists $40.7M in debt
Head Coach John L. Smith of the Arkansas Razorbacks watches on the sidelines during a game against the Alabama Crimson Tide at Razorback Stadium on September 15, 2012 in Fayetteville, Arkansas.
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Posted: 10/04/2012
LITTLE ROCK, Ark. (AP) -- Arkansas coach John L. Smith has amended his bankruptcy filing, listing $40.7 million in debts -- up from $25.7 million just last month.
The filing in U.S. Bankruptcy Court in Little Rock on Wednesday shows Smith has $1.3 million in assets. His previous filing listed $25.7 million in debts and $1.2 million in assets.
The difference appears to be $15 million owed to Branch Banking & Trust in Louisville, Ky. The original filing on Sept. 19 listed the amount owed to Branch Banking & Trust as unknown.
The latest filing says the exact amount owed is unknown -- but is more than $15 million.
Smith filed for Chapter 7 bankruptcy on Sept. 6 after a series of real estate investments went bad. The largest debt listed is $20 million to Terra Springs LLC of Louisville.
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