Brandon Barber Files Financial Statements
by September 21, 2009 12:00 am 85 views
Fayetteville developer Brandon Barber filed documents Sept. 11 disclosing his assets and liabilities, as required by his Chapter 7 bankruptcy petition filed July 31.
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In the filing, Barber lists $90,788 in personal property, including $46,638 in an individual retirement account, $17,000 worth of furniture in his New York and Fayetteville apartments and about $23,000 in accounts receivable from Dallas Real Estate, John Bracey and Mitchell Massey.
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Barber’s filing lists liabilities of $53.2 million, including a $6.5 million debt to father-in-law John Ed Chambers.
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According to the filing, Barber is currently employed by NWARE Investments LLC. Barber’s attorney, K. Vaughn Knight is listed as the registered agent for NWARE.
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Barber reports a monthly income of $283.23 and average monthly expenses of $1,880, including a $1,000 rent payment.
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The filing also lists Barber’s properties that will be surrendered to creditors, including several lots in the Belclaire subdivision in Fayetteville.
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The site of the proposed Divinity Hotel on Dickson Street in Fayetteville will be surrendered to Huntsville-chartered First State Bank of Northwest Arkansas to satisfy a $5.5 million debt.