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Article: Bell's negative net worth exceeds $5.6 million. (former Environmental Systems CEO Melvyn Bell)
- Article from:
- Arkansas Business
- Article date:
- May 4, 1998
- Author:
CopyrightCOPYRIGHT 1998 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Melvyn Bell, the former multimillionaire chief executive officer of Environmental Systems co., has a negative net worth of more than $5.6 million, according to a deposition of Bell taken last August.
That negative net worth is about $3.6 million worse than 1993, when U.S. District Judge G. Thomas Eisele declared Bell insolvent.
In an exhibit in the August deposition in Robert Marsh v. Melvyn Bell et al, Bell estimated his assets as of December 1996 as $1.9 million, consisting of $100,000 in equipment and antique artifacts and $1.8 million in real estate. The document doesn't describe the real estate, but most of it may be his went Little Rock home.
His ...