Posted 12/17/2012 12:00 am
In scanning the bankruptcy docket recently we noticed two cases where the debts were more than $1 million.
John Taylor Hampton Jr. of Rogers filed for Chapter 7 protection last month and listed $1.2 million in debt and less than half a million in assets.
Hampton operated several land development and homebuilding businesses, including Avalon Homes LLC and Southern Hills LLC. He currently is working at First Western Bank in Booneville. He’s earned nearly $120,000 so far this year and $107,653 in 2011.
A $1.4 million bankruptcy was filed by Timothy Morris of Fayetteville. He listed nearly $300,000 in assets. Morris had operated several companies, including a wholesale gasoline sales business, T&P Distribution Inc., and Morris Landscaping.
He and his wife made nearly $65,000 in 2011 and are on track to make about that much this year.
Hampton’s attorney, Joanne McCracken of Rogers, declined to comment. Theresa Pockrus of Fayetteville, the attorney for Morris, didn’t return a call for comment.