Former Ooltewah businessman Phil Martin, who now lives in South Alabama, has filed bankruptcy.
He listed between $10 million and $50 million in assets and the same range for his liabilities.
His 20 main creditors are listed as Beau Rivage $85,000, Bankfirst Financial Services $1,525,468, Evabank $1,227,767, Branch Bank and Trust $812,504 and $249,145, James Torrey of Fort Lauderdale $737,000, Grant, Konvalinka and Harrison law firm $537,000, Joe Gilchrist of Pensacola $$472,000, IRS $389,466, Ron Scaglioni of Park City, Utah $211,000, John Konvalinka $$210,000 ($200,000 secured), Bradley Arant $170,322, Escambia County $$94,583, Pearl River Resort $94,000, Alabama Department of Revenue $88,895, BB&T Bankcard $84,895, Bank Trust of Mobile $78,366, American Express $78,325 and 56,448, and Bay Minette, Ala., 61,057.
Another creditor is the Council Fire development in East Brainerd.
Mr. Martin was in the news in 2007 when he resigned from a post in the Fred Thompson campaign after publicity about an earlier drug conviction. Thompson had been taking campaign trips in a Martin airplane.
Phil Martin at one time was a member of the Carter Street Corporation board that runs the Trade Center.
He was an officer in the Four Seasons Corporation that was based in Ooltewah.
He has been involved in a long-running lawsuit in Hamilton County Circuit Court that was lodged against him and former business partner Delwin Huggins by McKee Baking executive Ellsworth McKee. The lawsuit claims Mr. McKee is still owed $8 million on a loan.