Wednesday, February 14, 2001
Ex-governor's creditors listed
Wilkinson's debt exceeds $339 million
The Associated Press
LEXINGTON A trust affiliated with the estate of the late cowboy actor Gene Autry is among former Gov. Wallace Wilkinson's largest unsecured creditors.
Mr. Wilkinson named the 20 largest unsecured creditors in papers filed Monday in U.S. Bankruptcy Court in Lexington.
The Autry Qualified Trust in Studio City, Calif., was listed for a $3 million loan.
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CREDITORS
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Wallace G. Wilkinson's 20 largest unsecured creditors ranked from highest to lowest amounts are:
1. George F. Valassis, Deerfield, Ill., $77 million
2. R. David Thomas, Dublin, Ohio, $25.5 million
3. The L.D. Group, Hazard, $17.5 million
4. Elmer Whitaker, Lexington, $15 million
5. Libra Group, Kinston, N.C., $13.55 million
6. Ayrshire Resources LLC, Louisville, $11 million
7. Black Gold Holdings II LLC, Hazard, $10.5 million
8. KDR Capital Corp., Dublin, Ohio, $9.5 million
9. L.D. Gorman, Hazard, $8.5 million
10. Martin McInerney, Southfield, Mich., $8 million
11. James A. Patterson, Louisville, $5 million
12. Leonard Lawson, Lexington, $5 million
13. William G. Porter, Shepardsville, $4.5 million
14. Sandra Valassis, Deerfield, Ill., $4 million
15. Richard D. Thurman, Louisville, $3 million
16. Citizens Bank & Trust, Hazard, $3 million
17. Autry Qualified Trust, Studio City, Calif., $3 million
18. The M&M Group, Hazard, $2 million
19. James H. Frazier III, Lexington, $1 million
20. Kelly Coffey, Danville, $1 million
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Most of the other creditors were longtime business associates, but some including Hazard businessman L.D. Gorman and Wendy's Restaurants founder R. David Thomas appear to have loaned Mr. Wilkinson a lot more money, directly or indirectly, than previously disclosed.
According to the filing, Gorman and four related entities Black Gold Holding II LLC, The L.D. Group, The M&M Group and Citizens Bank & Trust of Hazard are owed a total of $41.5 million, including $8.5 million to Gorman personally.
Mr. Wilkinson owes Mr. Thomas $25.5 million, but Mr. Thomas' company, RDT Inc. in Dublin, Ohio, is also the agent for KDR Capital Corp. in Dublin, which loaned Mr. Wilkinson an additional $9.5 million.
Another investor, William G. Porter, a retired commercial hardware manufacturer from Mount Washington, Ky., said in an interview that his first loan to Mr. Wilkinson was several years ago and the loan now totaling $4.5 million has been renewed several times. It's not delinquent, but the way it looks it will be, Mr. Porter said.
His daughter, Danville businesswoman Kelly Coffey, is also owed $1 million by Mr. Wilkinson.
In his filing, Mr. Wilkinson, 59, said he owes the 20 a total of $227.55 million, although all but $104.55 million of the total was disclosed last week by nine credi tors when they forced Mr. Wilkinson to seek bankruptcy court protection. The nine said he owed them $234.9 million but that his actual debt was well in excess of $300 million.
The filing brings the total of his known debt to $339.45 million and hints there could be much more. On the bankruptcy form, Mr. Wilkinson checked a box indicating that he has 55 to 99 creditors two to four times the number identified so far.
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