Filing: Razorbacks Coach’s Debt Now at $40.7 Million
John L. Smith claimed more debt on amended bankruptcy documents Wednesday. The filing also shows the Razorbacks coach has more assets since originally filing for bankruptcy in September.
Smith is $40.7 million in debt, up from the original filing of $25.7 million.
The amended filing now shows Smith owes $15 million to Branch Banking and Trust, tied to real estate investment in Louisville, Ky. Also added is $10,810.43 owed to American Express, according to federal bankruptcy documents.
Smith owes several banks and trusts, but only two other debts top $1 million. Smith owes real estate organization Terra Springs $20 million. He is also in debt $2 million to Republic Bank in Louisville, the documents show.
Besides increased debt, the bankruptcy adjustments also show Smith with more personal money, as Smith cashed in on assets such as a life insurance policy and stocks options.
The coach had claimed $300 cash on-hand and $500 in his bank account. Amended documents show Smith with $300 cash and $22,011.98 in his bank account.
Smith also shows about $1.3 million in property assets—$1.3 million from personal property and $2,000 from his deceased parents’ property.