NCAA FB

John L. Smith now lists $40.7M in debt

Image: Arkansas coach John L. Smith (© Beth Hall/US Presswire)
John L. Smith and Arkansas are off to a 1-4 start to the season.
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Updated Oct 4, 2012 11:57 AM ET
     
 

LITTLE ROCK, Ark. (AP)

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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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