$2.4 million bankruptcy.A former Arkansas businessman has filed for Chapter 7 bankruptcy protection listing $2.4 million in debt but only $183,000 in assets. Roger Green moved from Hot Springs to Mount Vernon Mount Vernon, estate, United States Mount Vernon, NE Va., overlooking the Potomac River near Alexandria, S of Washington, D.C.; home of George Washington from 1747 until his death in 1799. , Ill., in May, but between 1987 and November 2004, he owned the Ducks Inn Restaurant in Camden, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. his voluntary bankruptcy voluntary bankruptcy n. the filing for bankruptcy by a debtor who believes he/she/it cannot pay bills and has more debts than assets. Voluntary bankruptcy differs from "involuntary bankruptcy" filed by creditors owed money to bring the debtor before the bankruptcy petition. He also owned the Best Western Inn in Brinkley for a few months in 2002 and a truck stop and convenience store in Illinois. Most of Green's debt is tied to claims filed by the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. for back taxes. Green reported earning $53,482 in 2003, but only about $40,000 in 2004, his filing showed. For 2005, his income was listed at $12,000. Green couldn't be reached for comment and his attorney, Kathy Cruz of Hot Springs, didn't immediately return a call for comment. |
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