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Calling in Clary.


Another creditor is suing Little Rock developer Roger "Steve" Clary. This time it's BancorpSouth Bank of Tupelo, Miss., which claims he defaulted on a nearly $250,000 loan he took out in March 2002, according to a lawsuit it recently filed in Pulaski County Circuit Court.

As of the end of April, he owed $103,000 with interest accruing at about $15 a day, the lawsuit said. That's relatively small beer, considering the roughly $23 million in suits other creditors have filed against Clary since the summer of 2008.

In the event Clary cannot pay, BancorpSouth wants a judgment allowing it to liquidate the collateral Clary put up: 80 shares of Clary Cos. Inc. stock and a $500,000 life insurance policy.

A call seeking comment from Clary was not immediately returned. Nor was an earlier one seeking comment on more than $411,000 in property tax delinquencies on Clary's Shackleford Crossings LLC.

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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

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Title Annotation:WHISPERS
Publication:Arkansas Business
Article Type:Brief article
Geographic Code:1U7AR
Date:Oct 26, 2009
Words:153
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