Moncrief Settles Suit

Did you know that former NBA and University of Arkansas at Fayetteville basketball star Sidney Moncrief recently settled a lawsuit involving his former Pine Bluff dealership?

If you recall, Super Sid owned Pro Automotive, which ran the Hyundai dealership in Pine Bluff. In early 2005, Moncrief agreed to sell the dealership to McKay Hyundai LLC, which was run by John P. McKay Jr. and David Ashley.

But for various reasons the deal collapsed.

McKay and Ashley sued Pro Automotive and Moncrief in Pulaski County Circuit Court. And then Pro Automotive turned around and sued McKay and Ashley. Even though Moncrief didnð$ file the counterclaim, he thought he was entitled to some cash.

McKay and Ashley have agreed to pay $20,000 to settle the case. But about $10,000 will go toward legal fees for defending the case.

While Moncriefð# bankruptcy case is still pending, he did amend some of his filings.

One area to note was his amendment of his personal property filings. He listed the value of his Milwaukee Bucks MVP trophy, framed Sports Illustrated cover, University of Arkansas awards blanket, his Milwaukee Bucks jersey and other awards and plaques at $250.

In the bankruptcy case, Moncrief and his wife, Debra, had disclosed $130,720 in assets and $1.19 million in debt, with about $800,000 of the debt held by unsecured creditors.

http://www.arkansasbusiness.com/

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