The balance sheet of Mulberry’s Allied Bank is positioned to undergo a third-quarter makeover after a July 21-24 real estate auction. The $107 million-asset lender intends to liquidate a chunk of its OREO portfolio during the four-day event. read more >
Allied Bank of Mulberry has retained the services of Little Rock’s Blackmon Auctions to sell real estate collected mostly from borrowers on loans gone bad. read more >
Acme Holding Co., the parent company of the $107 million-asset Allied Bank of Mulberry, recently opened a new front in the ongoing financial dispute with its lead creditor. read more >
Three of the largest creditors of Acme Holding Co. recently submitted briefs in support of converting the bank holding company’s Chapter 11 reorganization to Chapter 7 liquidation. read more >
A fractious relationship between Hildene Capital Management and Acme Holding Co. was evident in the April 2-3 courtroom interaction between Rex Terry of Fort Smith, Hildene’s local counsel, and Lex and Alex Golden of Little Rock. read more >
Did creditors representing $9.5 million worth of debt convince U.S. Bankruptcy Court Judge Ben Barry that Acme Holding Co. is a lost cause? A ruling in their favor could result in the second auction of an Arkansas bank in three years. read more >
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. read more >
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. read more >
The award in Atlanta U.S. District Court is divided between more than $780,000 owed on a delinquent loan and nearly $118,000 in attorney fees. read more >
Three of the largest creditors of Acme Holding Co. want to see its Chapter 11 bankruptcy reorganization converted to Chapter 7 liquidation. read more >
They said it: The best quotes of the year. read more >
The president of Allied Bank’s Acme Holding Co. and his sister are the subjects of federal lawsuits. The Federal Deposit Insurance Corp. sued Alex Golden and Amy Golden McCay in U.S. District Court in Atlanta over delinquent loans totaling more than $1 million. read more >
A proposed $2 million sale of three of Allied Bank’s six branches to an unidentified buyer has drawn opposition from the largest secured creditors of its parent company, Acme Holding Co. of Little Rock. read more >
The parent company of Allied Bank of Mulberry was steered into bankruptcy to stave off a possible takeover by a fellow lender. The defensive move buys Acme Holding Co. more time to work out a solution with Chambers Bank of Danville and other creditors. read more >
Acme Holding Co. filed a voluntary petition listing estimated assets of less than $50,000 and estimated liabilities of up to $10 million, including $1.4 million loaned to the employee stock ownership plan. read more >
