A judge has ruled that Bill Schwyhart, a prominent developer during the Northwest Arkansas building boom who is seeking bankruptcy protection, can be questioned under oath by the United States trustee overseeing the case.
Schwyhart and his wife recently filed for Chapter 7 bankruptcy protection in Texas, where they now reside, claiming more than $90 million in debt. In an order filed Wednesday, the judge granted a Rule 2004 Examination of the couple in Dallas on Dec. 17.
According to court filings, the trustee wants to question the Schwyharts about documents they produced as part of the bankruptcy, the circumstances leading to the bankruptcy petition and their general financial condition.
Investment group CHP filed suit in Benton County Circuit Court in May, claiming Schwyhart and several John Doe defendants were ducking collection efforts. CHP contends Schwyhart lived rent-free for four years in a house in the Pinnacle Hills subdivision in Rogers, pretending to be its caretaker, while he was actually the owner through a shell company, Pinnacle Villa LLC.
-- John Magsam
Walmart site hosts mental-health firm
A mental health clinic has opened in a Walmart store in a Dallas suburb.
A Walmart Inc. spokesman said it is a first for the Bentonville-based retailer, which leases space in its supercenters to businesses such as nail salons and veterinary clinics.
Beacon Health Options of Boston said in a news release that it will provide outpatient mental health therapy in retail stores and other locations "that promise convenience, privacy and accessibility." The clinic in the Carrollton, Texas, store is Beacon's first, operating as Beacon Care Services.
At least one clinician will staff the practice, providing counseling for common mental health issues, the release said. The clinic is open weekdays and accepts health insurance.
Beacon said it is evaluating other sites for expansion. It is not in discussions with Walmart about future locations, Walmart's spokesman said.
-- Serenah McKay
Index climbs 7.80 to close at 422.99
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, jumped 7.80 to 422.99 Wednesday.
"Equities spiked higher in afternoon trading following a speech by Federal Reserve Chairman Jerome Powell indicating that interest rates were just below a level that would be neutral for the economy," said Leon Lants, managing director at Stephens Inc. in Little Rock.
Total volume for the index was 23.3 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 11/29/2018