Talley’s Name Linked to Arena

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The business about the Bentonville sports arena sounds suspiciously like the 8,000- to 10,000-seat arena that a Memphis-area man named Chris Talley and his Arkansas Sports & Entertainment Park LLC announced in June 2006, although the site was later moved to Rogers.

The price tag on the project was variously reported as $43 million to $55 million and, of course, it was never actually built.

We haven’t been able to track down Talley to ask if he colluded with Bill Hemm to defraud ANB, but we do know this: ANB objected strenuously when Talley’s company, CJC Development LLC, filed for bankruptcy in Memphis in July 2007 and planned to sell some real estate in Memphis without recognizing ANB’s $5.1 million lien on it.

Talley had a codebtor in the CJC Development bankruptcy named Jagtar S. Dhaliwal of Rogers, but whether Dhaliwal – whom we also couldn’t reach – was one of the borrowers accused of colluding with Hemm is not known.