Voluntary Chapter 11 Bankruptcy Petition by Capitol Development of Arkansas, Inc.

Summary

Capitol Development of Arkansas, Inc. has filed a voluntary petition for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Eastern District of Arkansas. The filing indicates the company is seeking protection to reorganize its debts while continuing operations. The petition includes basic information about the debtor, its assets, liabilities, and business status. The company is represented by attorney Geoffrey B. Treece. This filing initiates the bankruptcy process, subject to court oversight and applicable bankruptcy laws.

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EX-10.41 2 0002.txt VOLUNTARY PETITION FOR CHAPTER 11 FILED 7/21/00 EXHIBIT 10.41
- ------------------------------------------------------------------------------------------------------------------------------------ United States Bankruptcy Court VOLUNTARY PETITION (part 1) Eastern District of Arkansas - ------------------------------------------------------------------------------------------------------------------------------------ Name of Debtor (if Individual, enter Last, First, Middle) NAME OF JOINT DEBTOR (Spouse) (Last, First, Middle) Capitol Development of Arkansas, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ ALL OTHER NAMES used by the debtor in the last 6 years ALL OTHER NAMES used by the joint debtor in the last 6 years (including married, maiden and trade names) (include married, maiden and trade names) - ------------------------------------------------------------------------------------------------------------------------------------ SOC. SEC./TAX I.D. NO. (if more than one, state all) SOC. SEC./TAX I.D. NO. (if more than one, state all) #75 ###-###-#### - ------------------------------------------------------------------------------------------------------------------------------------ STREET ADDRESS OF DEBTOR (No. and street, city, state, zip) STREET ADDRESS OF JOINT DEBTOR ((No. and street, city, state, zip) 10605 C Maumelle Boulevard Maumelle, AR 72113 ----------------------------------- ----------------------------------- COUNTY OF RESIDENCE OR COUNTY OF RESIDENCE OR PRINCIPAL PLACE OF BUSINESS PRINCIPAL PLACE OF BUSINESS Pulaski - ------------------------------------------------------------------------------------------------------------------------------------ MAILING ADDRESS OF DEBTOR (if different from street address) MAILING ADDRESS OF JOINT DEBTOR (if different from street address) P. O. Box 13246 Maumelle, AR 72113 - ------------------------------------------------------------------------------------------------------------------------------------ LOCATION OF PRINCIPAL ASSETS OF BUSINESS DEBTOR NAME OF ATTORNEY Geoffrey B. Treece (if different from addresses listed above) ADDRESS 410 W. Third Street, Suite D Little Rock, AR 72201 N/A PHONE ###-###-#### BAR NO. 84-146 - ------------------------------------------------------------------------------------------------------------------------------------ Information Regarding the Debtor (Check the Applicable Boxes) - ------------------------------------------------------------------------------------------------------------------------------------ VENUE (Check any applicable boxes) [X] Debtor has been domiciled or has had a residence, principal place of business, or principal assets in this District for 180 days immediately preceding the date of this petition or for a longer part of such 180 days than in any other District. [_] There is a bankruptcy case concerning debtor's affiliate, general partner, or partnership pending in this District. - ------------------------------------------------------------------------------------------------------------------------------------ Type of Debtor (Check all boxes that apply) Chapter or Section of Bankruptcy Code Under Which the Petition is Filed (Check one box) [_] Individual(s) [_] Railroad [_] Chapter 7 [X] Chapter 11 [_] Chapter 13 [X] Corporation [_] Stockbroker [_] Chapter 9 [_] Chapter 12 [_] Partnership [_] Commodity Broker [_] Sec. 304 - Case ancillary to foreign proceeding [_] Other _____________________________ - ------------------------------------------------------------------------------------------------------------------------------------ Nature of Debts (Check one box) Filing Fee (Check one box) [_] Consumer/Non-Business [X] Business [X] Full Filing Fee attached - ----------------------------------------------------------------- Chapter 11 Small Business (Check all boxes that apply) [_] Filing Fee to be paid in installments (Applicable to [_] Debtor is a small business as defined in 11 U.S.C. (S) 101 individuals only) [_] Debtor is and elects to be considered a small business Must attach signed application for court's consideration under 11 U.S.C. (S) 1121(e) (Optional) certifying that the debtor is unable to pay fee except in installments. Rule 1006(b). See Official Form No. 3. - ------------------------------------------------------------------------------------------------------------------------------------ Statistical/Administrative Information (Estimates only) THIS SPACE IS FOR COURT USE ONLY [_] Debtor estimates that funds will be available for distribution to unsecured creditors. [_] Debtor estimates that, after any exempt property is excluded and [Stamp] administrative expenses paid, there will be no funds available for distribution to unsecured creditors. - ---------------------------------------------------------------------------------------------------- Estimated Number of Creditors 1-15 16-49 50-99 100 ###-###-####-over [_] [_] [_] [_] [_] [_] - ---------------------------------------------------------------------------------------------------- Estimated Assets $0 $50,001 $100,001 $500,001 $1,000,001 $10,000,001 $50,000,001 More to to to to to to to than $50,000 $100,000 $500,000 $1 million $10 million $50 million $100 million $100 million [_] [_] [_] [_] [_] [_] [_] [_] - ---------------------------------------------------------------------------------------------------- Estimated Debts $0 $50,001 $100,001 $500,001 $1,000,001 $10,000,001 $50,000,001 More to to to to to to to than $50,000 $100,000 $500,000 $1 million $10 million $50 million $100 million $100 million [_] [_] [_] [_] [_] [_] [_] [_] - ------------------------------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------------------------- VOLUNTARY PETITION (part 2) Name of Debtor(s) (This page must be completed in every case) Capitol Development of Arkansas, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Prior Bankruptcy Case Filed Within Last 6 Years (if more than one, attach additional sheet) - ------------------------------------------------------------------------------------------------------------------------------------ Location: Case Number: Date Filed: Date Filed: - ------------------------------------------------------------------------------------------------------------------------------------ Pending Bankruptcy Case filed by any Spouse, Partner or Affiliate of this Debtor (if more than one, attach additional sheet) - ------------------------------------------------------------------------------------------------------------------------------------ Name of Debtor: Case Number: Date Filed: - ------------------------------------------------------------------------------------------------------------------------------------ District: Relationship: Judge: - ------------------------------------------------------------------------------------------------------------------------------------ Signatures - ------------------------------------------------------------------------------------------------------------------------------------ Signature(s) of Debtor(s) (individual/Joint) Signature(s) of Debtor (Corporation/Partnership) I declare under penalty of perjury that the information provided I declare under penalty of perjury that the information in this petition is true and correct. provided in this petition is true and correct, and that I have (If petitioner is an individual whose debts are primarily consumer been authorized to file this petition on behalf of the debtor. debts and has chosen to file under chapter 7) I am aware that I may proceed under chapter 7, 11, 12 or 13 of title 11, United States The debtor requests relief in accordance with the chapter of Code, understand the relief available under each such chapter, and title 11, United States Code, specified in this petition. choose to proceed under chapter 7. I request relief in accordance with the chapter of title 11, United States Code, specified in this petition. /s/ Michael G. Todd ------------------------------------------------------- Signature of Authorized Individual X _________________________________________________________ Signature of Debtor Michael G. Todd ------------------------------------------------------- Printed Name of Authorized Individual X _________________________________________________________ Signature of Joint Debtor President ------------------------------------------------------- Title of Authorized Individual _________________________________________________________ Telephone Number (if not represented by attorney) July 21, 2000 _________________________________________________________ ------------------------------------------------------- Date Date - ------------------------------------------------------------------------------------------------------------------------------------ Signature of Attorney Signature of Non-Attorney Petition Preparer /s/ Geoffrey B. Treece I certify that I am a bankruptcy petition preparer as defined --------------------------------------------------------- in 11 U.S.C. (S) 110. that I prepared this document for Signature of Attorney for Debtor(s) compensation, and that I have provided the debtor with a copy of this document. Geoffrey B. Treece --------------------------------------------------------- Printed Name of Attorney for Debtor(s) _______________________________________________________ Treece Phillips LLP Printed Name of Bankruptcy Petition Preparer --------------------------------------------------------- Firm Name _______________________________________________________ 410 W. Third St., Suite D Social Security Number --------------------------------------------------------- Address Little Rock, AR 72201 --------------------------------------------------------- _______________________________________________________ Address ###-###-#### --------------------------------------------------------- Telephone Number _______________________________________________________ Names and Social Security numbers of all other July 21, 2000 individuals who prepared or assessed in preparing this --------------------------------------------------------- document. Date - ------------------------------------------------------------------ Exhibit A (To be completed if debtor is required to file periodic reports (e.g., forms 10K and 10Q) with the Securities and Exchange Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 and is If more than one person prepared this document, attach requesting relief under chapter 11) additional sheets conforming to the appropriate official form for each person. [_] Exhibit A is attached and made a part of this petition. - ------------------------------------------------------------------ Exhibit B (To be completed if debtor is an individual _______________________________________________________ whose debts are primarily consumer debts) Signature of Bankruptcy Petition Preparer I, the attorney for the petitioner named in the foregoing petition, declare that I have informed the petitioner that (he or she) may proceed under chapter 7, 11, 12 or 13 of title 11, United States _______________________________________________________ Code, and have explained the relief available under each such Date chapter. A bankruptcy petition preparer's failure to comply with the X _______________________________________________________ provisions of title 11 and the Federal Rules of Bankruptcy Signature of Attorney for Debtor(s) Date Procedures may result in fines or imprisonment or both, 11 U.S.C. (S)110, 16 U.S.G. (S) 156. - ------------------------------------------------------------------------------------------------------------------------------------
IN THE UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF ARKANSAS LITTLE ROCK DIVISION IN RE: CAPITOL DEVELOPMENT OF ARKANSAS, CASE NO.________________ INC. (CHAPTER 11) DEBTOR-IN-POSSESSION SCHEDULE OF CLAIMS ------------------ Debtor. Capitol Development of Arkansas, Inc., hereby files a list of creditors and their addresses, pursuant to Rule 1007, Rules of Bankruptcy Procedure. Bank of Little Rock Pete Maris, President 200 N. State Street Little Rock, AR 72201 Capitol Communities Corporation 25550 Hawthorne Boulevard, Suite 207 Torrance, CA 90505 Davister Corporation Attn.: F. Terry Shumate 10670 N. Central Expressway, Suite 640 Dallas, TX 75231 First Arkansas Valley Bank Roy Reaves, President 5101 North Arkansas Russellville, AR 72$(11 Hardin & Grace, P.A. 410 W. Third Street, Suite 200 Little Rock, AR 72201 Ron A. Hope 211 S. Spring Street Little Rock, AR ###-###-#### Maumelle Enterprises P. 0. Box 13256 MaumelIe, AR 72113 Pulasld County Treasurer Administration Building 242 S. Broadway, suite 150 Little Rock, AR 72201 Resure, Inc. C/o Special Deputy Receiver 222 Merchandise Mart Plaza Suite 1450 Chicago, IL 60654 Debtor reserves all objections and defenses to the claims set forth in this Schedule, including all objections to liability for and amount of claims.. CAPITOL DEVELOPMENT OF ARKANSAS, INC. By: /s/ Michael G. Todd ----------------------- Michael G. Todd, President Date: 7/21/00 --------------------- 2 IN THE UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF ARKANSAS LITTLE ROCK DIVISION IN RE: CAPITOL DEVELOPMENT OF ARKANSAS, CASE NO.________________ INC. (CHAPTER 11) DEBTOR-IN-POSSESSION LIST OF TWENTY LARGEST UNSECURED CREDITORS ------------------------------------------ Come now the Debtor, Capitol Development of Arkansas, Inc., Debtor-in Possession, by and through their attorneys, Treece Phillips LLP, and for their List of Twenty Largest Unsecured Creditors pursuant to Rule 1107(d) of the Bankruptcy Rules of Procedure, list the following creditors, addresses and claims: (a) Davister Corporation Attn: F. Terry Shumate 10670 N. Central Expressway, Suite 640 Dallas, TX 75231 (b) $ 200,000.00 plus interest (a) Hardin & Grace, P.A. 410 W. Third Street, Suite 200 Little Rock, AR 72201 (b) Undetermined (a) MaumeIie Enterprises P. 0. Box 13256 Maumelle, AR 72113 (b) $60,703.06 Debtor reserves all objections and defenses to the claims set forth in this Schedule, including all objections to liability for and amount of claims. 1 CAPITOL DEVELOPMENT OF ARKANSAS, INC. By: /s/ Michael G. Todd ---------------------------- Michael G. Todd, President Date: 7/21/00 --------------------------- Respectfully submitted, TREECE PHILLIPS LLP By: /s/ Geoffrey B. Treece ----------------------------- Geoffrey B. Treece Arkansas Bar No. 84-146 410 W. Third Street, Suite D Little Rock, AR 72201 Telephone ###-###-#### Facsimile ###-###-#### 2