Legal Archive

One Bank Customer Pleads Guilty to Reduced Federal Charge of Money Laundering

by Gwen Moritz 4/13/2015 04:57 pm

In a plea deal reached with the U.S. Attorney's Office in Little Rock, Albert Solaroli pleaded guilty to laundering $120,000 of the loan in exchange for having a pending bank fraud charge dismissed.

Turner Grain's Dale Bartlett Asks for Chapter 7

by Arkansas Business Staff 4/13/2015 12:00 am

Dale Bartlett, a former co-owner of Turner Grain Merchandising of Brinkley, asked earlier this month that his Chapter 11 bankruptcy reorganization be converted to a Chapter 7 liquidation.

NLR Manufacturer Files for Chapter 11

by Arkansas Business Staff 4/13/2015 12:00 am

O.D. Funk Manufacturing Inc. of North Little Rock, which has been in business since 1976, has filed for Chapter 11 reorganization.

Golden Moments in Acme Bankruptcy Court

by Arkansas Business Staff 4/13/2015 12:00 am

Lex Golden, chairman and CEO of Acme Holding Co., served up some meandering testimony during nearly an hour on the witness stand in bankruptcy court on April 2.

Jim Bolt Appeal of Prison Sentence Denied

by Arkansas Business Staff 4/13/2015 12:00 am

If you were worried that Jim Bolt — aka Inmate No. 04831-062 at the Lexington, Kentucky, federal correctional facility — might have been sentenced too harshly by U.S. District Judge Timothy L. Brooks of Fayetteville, you can relax.

Former Beebe Chief of Staff Morril Harriman Joins Mitchell Williams

by Arkansas Business Staff 4/13/2015 12:00 am

Morril Harriman has joined the law firm of Mitchell Williams Selig Gates & Woodyard PLLC as counsel in the firm's Little Rock office. Harriman has 25 years of experience in private practice law and 16 years of service in the Arkansas Senate.

Judge Tosses Wal-Mart Bribery Case

by Mark Friedman 4/13/2015 12:00 am

A federal judge in Arkansas last month threw out a shareholder lawsuit against Wal-Mart Stores Inc. and its directors over allegations of bribery in Mexico.

Allied Bank Assets Undervalued — or Not

by George Waldon 4/13/2015 12:00 am

Among the Allied Bank assets discussed during Acme Holding's recent bankruptcy hearing were energy stocks valued at $3.8 million in a 2012-13 appraisal.

Bankruptcy Judge Considers Allied Bank Auction

by George Waldon 4/13/2015 12:00 am

The continued ownership of Allied Bank by the Lex Golden family is under judicial review after a recent two-day bankruptcy hearing in Fayetteville. U.S. Bankruptcy Judge Ben Barry will decide in the coming weeks whether Acme Holding Co. should be liquidated, resulting in the sale of Allied, the $111 million-asset bank chartered in Crawford County.

Fort Smith Retakes Top Spot in Arkansas Tech Business Index

by Mark Carter 4/7/2015 09:36 am

The index is a comprehensive measure that provides a snapshot of economic activity in Arkansas cities. It encompasses a labor index, housing market index, construction index and retail sales index.

Chinese Manufacturer Countersues Rogers Executives

by Marty Cook 4/6/2015 03:06 pm

Sales Chief Ent. (Hong Kong) Co. LTD has filed a countersuit alleging Redman & Associates CEO Mel Redman and President Rodney Redman committed fraud and defamation.

Plea Deal for Dennis Smiley Jr. In the Works

by Arkansas Business Staff 4/6/2015 12:00 am

A plea deal for Dennis Smiley Jr., former Benton County market president for Arvest Bank, is nigh.

Foreclosure Sales Lead Off Recent Million-Dollar Deals

by Arkansas Business Staff 4/6/2015 12:00 am

Little Rock provides a trio of million-dollar transactions this week with an apartment complex, mansion and high-rise condo.

Benton County Home Targeted for Repossession by IRS

by Arkansas Business Staff 4/6/2015 12:00 am

The IRS is trying to take the home of a Benton County man who failed to pay millions in federal employment taxes.

Former Prison Guard Sues Pathway to Freedom After Beating

by Arkansas Business Staff 4/6/2015 12:00 am

A former guard for the Arkansas Department of Correction is suing a private pre-release and reentry services company over injuries he received during a fight in one of the company's barracks.

Soul of the South Mulls ‘Winding Down'

by Sean Beherec 4/6/2015 12:00 am

The board of directors for Soul of the South — the 2-year-old television network backed by nearly $2 million in state money — considered winding down operations at a board meeting last week, CEO Doug McHenry said.

Arvest Firing Challenged in Bankruptcy Court

by Mark Friedman 4/6/2015 12:00 am

An Arkadelphia man says following bankruptcy law was a violation of Arvest's policy on employee debt and cost him his job.

Tech Leaders Unite Against Laws They See as Discriminatory

by Arkansas Business Staff 4/1/2015 03:51 pm

Thirty-nine leaders from many of the country's leading tech firms issued a joint letter Wednesday in opposition to Arkansas House Bill 1228 and laws in other states that the group has deemed discriminatory against gays and lesbians.

FEMA's Climate Change Rule Could Make States Liable in Natural Disasters

by Arkansas Business Staff 3/30/2015 12:00 am

A climate change expert says FEMA's requirement states consider the effects of climate change if they want to receive federal mitigation money was simply “a way to protect the federal treasury by minimizing claims for FEMA money from places that don't take adequate precautions.

Bean Lumber Case Closed Over 'Failure To Communicate'

by Arkansas Business Staff 3/30/2015 12:00 am

U.S. District Judge James Moody Jr. recently tossed out a case that Grady Bean, CEO of the defunct Bean Lumber Co. of Glenwood, and his company filed back in 2013 because of Bean's “failure to communicate,” according to Moody's order.