Debt Discharged for Lex and Ellen Golden

Debt Discharged for Lex and Ellen Golden
Lex Golden, chairman, CEO and lead shareholder in the bankrupt Acme Holding Co.

Did you know that Lex and Ellen Golden were discharged from bankruptcy last week?

While the fallen Little Rock banker and his wife shed debt, their Chapter 7 liquidation remains active with a pending auction of household furnishings and other assets.

Details of exactly what will be sold remain to be sorted out.

Waiting in the wings to conduct the public sale is Tracy Robinson Auctioneers of Pine Bluff.

You might recall that the joint filing by the Goldens listed total assets of $1.9 million and total liabilities of $7.7 million. Most of that debt, $4.2 million, was owed to unsecured creditors.

The discharge comes 14 months after entering bankruptcy court.

Amy McCay, their daughter, received her order of discharge from bankruptcy court on April 8.

McCay claimed $447,463 in liabilities and $329,359 in assets. She filed Chapter 7 nearly nine months ago.

The family’s declining fortunes followed the failing trajectory of Allied Bank, which the Goldens controlled until regulators took over the insolvent lender and sold it on Sept. 23, 2016.