You might recall that Johnelle Hunt is seeking to collect on a Sept. 18 default judgment of $14.7 million against the parent company of Little Rock’s One Bank & Trust.
Her BHL Financing LLC is pursuing another potential asset of OneFinancial Corp. in addition to the 7,200-SF Parking Building at 4 Country Club Circle in Maumelle.
BHL Financing is making a claim on $1.2 million worth of trust-preferred shares issued by West Tennessee Bancshares Inc., holding company for the $337 million-asset Bank of Bartlett.
The bank recorded a 2015 profit of $317,000 through Sept. 30 after reporting a $178,000 loss during 2014.
The office building and trust-preferred shares were carried on the books of OneFinancial until 2012 when Jerry Pavlas was brought in to replace Layton “Scooter” Stuart, who died the following year.
The default judgment represents debt amassed by Stuart in business dealings with Hunt’s husband, J.B. Hunt, namesake founder of J.B. Hunt Transport Services Inc. of Lowell.
Case Closed
In other One Bank news, the lender recently withdrew its Oct. 23 lawsuit seeking to recover $27,300 allegedly owed on a loan to Debra Hoag. Hoag is the Chicago insurance broker who helped arrange the $20 million life insurance policy for the late Scooter Stuart, former owner and CEO of One Bank.
She also became trustee of the Stuart Family Trust, the beneficiary of that policy. Shortly after accepting that role, Hoag helped arrange a $1.7 million policy loan at the insistence of Scooter Stuart.
He wasn’t legally authorized to seek the loan and even managed to cash the loan check at One Bank although it was in the name of “Stuart Family Trust.”
That $1.7 million is the subject of an ongoing federal lawsuit against Hoag by Stuart’s heirs.