Remember the settlement between Johnelle Hunt’s BHL Financing LLC and Little Rock’s One Bank & Trust we told you about two months ago?
We have more details.
The outcome of that federal case is that BHL received assets valued at $2.8 million.
The list includes:
- The trust-preferred shares issued by West Tennessee Bancshares Inc., holding company for the $337 million-asset Bank of Bartlett, valued at $1.2 million,
- The 7,200-SF Parker Building at 4 Country Club Circle in Maumelle, $800,000;
- A 2.5-acre commercial site at the southwest corner of Highways 5 and 89 on the edge of Cabot; and
- $200,000 in cash.
You might recall the lawsuit got rolling after BHL landed a $14.7 million default judgment last September against One Bank's holding company, OneFinancial Corp.
The action represented a second lawsuit to collect on financial guarantees made by One Bank’s former owner and CEO, Layton “Scooter” Stuart, who died in March 2013.
The guarantees are tied to an October 2002 reworking of $30 million of debt amassed by Stuart in business dealings with Hunt’s late husband, J.B. Hunt, founder of J.B. Hunt Transport Services Inc. of Lowell.
A chunk of that debt was tied to the Hunt family selling its interest in One Bank to Stuart.