Lindsey creditors due $170 million
File: Claims assets of $10 million
Posted: March 19, 2010 at 6:03 a.m.
Court filings reveal that Fayetteville real estate developer and investor John David Lindsey owes more than $169.6 million to creditors, more than $100 million of that to Arkansas banks.
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Front Section, Pages 1 on 03/19/2010
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What is that saying about absolute power? and "What goes around"? Greed, such an ugly affliction, but such a common disease these days. No doubt there are plenty of funds already hidden in off-shore bank accounts.
Posted by: mm13
March 19, 2010 at 11:58 a.m. ( permalink | suggest removal )
Wow, the creditors will only get about one nickel on every dollar for what they are owed!?!? I see two problems with this. 1) The banks shouldn't have been so frivolous in loaning money. 2) It seems unethical to file personal bankruptcy when the money probably exists with his co-debtors, his ownership interest in other companies, and within his Dad's pocketbook.
It seems like the corporate practice of separating units into separate businesses so that one sinking venture won't hurt the main one. Maybe it's legal but it is not right. I guess he can't hurt his Dad's company or his thousands of identical apartment units will fall into disrepair and our city will look like a craphole.
JDL will be ok with his trust fund that was stated at $5000 a month.
Posted by: FishFillet
March 19, 2010 at 3:55 p.m. ( permalink | suggest removal )
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