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Looking Back.

Those payments stem from a 1997 settlement agreement the last time Imperato dragged Wallace to court over unpaid debt associated with the Iver Johnson Arms deal.

In that dispute, Imperato forced the once high-profile lawyer and businessman to sell his interest in four real estate investments to pay off part of a $1.1 million settlement agreement dating back to 1994.

Imperato also sold Wallace's Mercedes convertible after U.S. marshals seized it as part of his collection on the bad debt.

Marshals also confiscated Wallace's expensive office furnishings as part of the court-ordered collection effort. Imperato later returned the furniture to get Wallace to sign another settlement agreement, now in dispute.
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Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1U7AR
Date:Dec 6, 1999
Words:112
Previous Article:Imperato Returns.
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