NW Homebuilder Files Chapter 7
by June 4, 2007 12:00 am 71 views
A Northwest Arkansas homebuilder has filed for Chapter 7 bankruptcy protection and listed $2.2 million in debt.
Michael D. Curry, who formerly did business as M&L Homebuilders Inc. of Springdale, reported just $196,300 in assets.
Just under $2 million worth of the debt is tied to creditors holding unsecured claims. ANB Financial NA of Bentonville has unsecured claims against M&L Homebuilders for $767,000. But some of ANB’s claims are subject to setoffs on several lots that Curry reported are valued at $315,000.
Curry didn’t report any income generated from M&L Homebuilders in the last two years. He reported earning $13,600 in 2005 and 2006. And so far this year, he has made $5,368 as a school bus driver.
Curry couldn’t be reached for comment. His attorney Jill Jacoway of Fayetteville was unavailable for comment.