Collection Suit Against Luke Quinn Dismissed

by Arkansas Business Staff  on Monday, Jul. 9, 2018 12:00 am   1 min read

Luke Quinn

That $53,898 collection suit against Luke W. Quinn IV we told you about last week was dismissed.

From the Quinn camp, we heard the case went away because Today’s Bank of Huntsville didn’t own the Allied Bank loan associated with the alleged bad debt.

You may recall that Today’s Bank bought the insolvent Allied from the Federal Deposit Insurance Corp. with a negative bid of $6.14 million in 2016.

From the Today’s camp, we heard there were “lots of moving parts,” but no one we talked to would confirm or deny the bank’s ownership of the loan.

This particular February 2015 loan originally totaled $303,000 and was secured by 11,140 shares of Rock Bancshares, the now-defunct holding company of Heartland Bank, once led by Quinn’s father, Walter.

 

 

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