LITTLE ROCK, Ark. (AP) Arkansas private coach John L. Smith filed a Chapter 7 chapter 13 petition Thursday to get financial obligations he / she sustained through property ventures with Kentucky.
Smith shared with The Associated Press throughout July they required to help make your processing but additionally ended up being attempting to avoid it.
Documents filed with U.S. Bankruptcy Court while in the Western District of Arkansas indicate Smith provides assets involving in between $1 million in addition to $10 million along with money owed of somewhere between $10 thousand and $50 million. The health history is preliminary plus more information will be added to the track record later.
A Chapter 7 health history is usually utilized to liquidate debts, compared with chapters 11 as well as tough luck that happen to be used for reorganization.
Smith conversed his of poor quality financial condition over the summer time for the reason that he did not really want his problem to become a new distraction should the No. 8 Razorbacks commenced participating in games.
Smith explained in July of which your dog started out this property investments whenever this individual appeared to be lessons Louisville from 1998-2002 and that he along with other option traders missing dollars should the real estate current market softened.
After Arkansas fired Bobby Petrino within the spring, Smith emerged on panel for the 10-month contract value $850,000. He eventually left Weber State, exactly where he or she had recognised the travel coaching job.
Athletic overseer Jeff Long instructed the AP this Smith were being candid about his or her finances and also your dog failed to hold the item next to him, especially taking into account the particular economy.
Arkansas spokesman Derek Satterfield explained he did not foresee this program would problem a assertion Thursday.
Messages were eventually left looking for brief review out of Smith's attorney, Jill Jacoway regarding Fayetteville.
Smith mentioned within July he couldn't want their economical woes to impact the particular school.
''From a new individual standpoint, I will not desire the college or university appearing embarrassed, although I'm not really embarrassed,'' Smith explained on the time. ''It's some thing that is definitely happened. I designed many mistakes, and really with you, I'm some sort of football coach, not a businessman.''
Arkansas (1-0) represents Louisiana-Monroe on Saturday at Little Rock's War Memorial Stadium.
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