Agracat?s Creditors Include Several Banks

Among the 20 largest claimants in the Agracat reorganization filing as of April 22 were Arkansas National Bank in Fayetteville ($800,000), Community Bank in Springdale ($145,000), Simmons First Bank of Northwest Arkansas in Springdale ($120,000) and First Federal Bank in Farmington ($170,000). Other prominent claimants include the Internal Revenue Service ($350,000) and the Arkansas Department of Finance & Administration ($80,000).

The 20 largest claims totaled about $4.69 million. An Agracat motion for more time to file its schedules and statement of financial affairs was granted April 16 by U.S. Judge Richard Taylor. That gave Agracat until April 30 to file its information, although the recent motion by its Fayetteville counsel, The Nixon Law Firm, said “there are in excess of 350 unsecured creditors,” numerous contracts and more than 50 creditors with incomplete information to still be rounded up.