Golden Moments in Acme Bankruptcy Court

Golden Moments in Acme Bankruptcy Court

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.

His sometimes rambling and off-topic responses extended to Acme’s bankruptcy attorney, Stanley Bond of Fayetteville, as well as lawyers representing Acme creditors.

It prompted some gentle admonishments from U.S. Bankruptcy Judge Ben Barry to answer the question without going into a longer narrative.

“We’re hearing a lot of testimony about the banking industry, but the banking industry is not on trial here today,” an exasperated Rex Terry said during his cross-examination of Golden on behalf of Hildene Management. “I object to this harangue.”

“Try to hone it down, so we can get to the meat of the coconut,” Barry instructed Golden.

The elder Golden also committed a courtroom no-no by talking to the judge as he passed by after calling a brief morning recess.

After the hearing resumed, Barry explained that Golden was merely apologizing for leaving the courtroom earlier in the hearing.

“He was just being cordial, that’s all,” the judge said.

For more on the hearing, see this week's cover story: Bankruptcy Judge Considers Allied Bank Auction