Kidd’s Bankruptcy Isn’t So Simple

Also included in the Kidds’ liabilities is a $575,000 judgment against Lane Kidd that dates back two decades, to his time as vice president of a mobile home company called Ameristar Inc.

Kidd’s uncle, Jim Kidd of California, persuaded a federal court jury that he lent the money to Ameristar, although executives said it was an investment. Ameristar issued a private stock offering a week before the stock market crash of October 1987 and never recovered.

The 1991 judgment was never paid and was renewed after 10 years by a federal judge. Kidd said he did not know if the judgment would be renewed again.

Jennifer Kidd, whose company publishes a monthly magazine for the trucking associations in Arkansas and other states, owes $35,090 in back taxes to the Internal Revenue Service, and the Kidds also owe $2,706 to the Arkansas Department of Finance & Administration and $16,582 to the Pulaski County Treasurer for real estate taxes.

The bankruptcy petition “was as embarrassing as it was necessary,” Lane Kidd said.