Barber and Kafka Face More Troubles
by January 11, 2010 12:00 am 279 views
Harrison-based First Federal Bank filed a petition for foreclosure against one of Brandon Barber’s former LLCs and a former partner and the partner’s ex-wife.
The foreclosure was filed against Lynnkohn LLC and Seth Kaffka and Laura Chambers Kaffka and Indulge LLC in mid-December.
Barber filed Chapter 11 bankruptcy protection under Lynnkohn in August 2008. Indulge, which is still in good standing with the Arkansas Secretary of State, is headed by Barber.
Lynnkohn listed assets of $35.46 million and liabilities of $31.62 million. Lynnkohn had 86 creditors holding unsecured claims of $3.88 million and outstanding real estate debt of $25.3 million.
In the December petition, FFB claims the defendants are in default on a loan made in December 2005 for $690,000; a loan made in June 2006 for $3.7 million. The loans are secured with property in Washington County.
Legacy National Bank of Springdale and B&S Metal Sales Inc. are also creditors, but FFB claims it has priority.
Kaffka and Barber have both filed personal bankruptcy.