Friday, August 8, 2008

Federal Judge Reopens Terrill's Bankruptcy Case

Bankruptcy Court Reopens Terrill Case. A federal judge has reopened Rep. Randy Terrill's 2005 bankruptcy filing after reports alleged that the Republican legislator failed to disclose an asset in the form of a campaign loan the trustee claims should have been declared as an asset and shared with debtors. Federal Bankruptcy Judge T.M. Weaver reopened the case Thursday in response to a petition from bankruptcy trustee John D. Mashburn. Mashburn asked that the case be reopened because Terrill, the head of the House Revenue and Taxation Committee, failed to list as an asset money his campaign owed him. Mashburn said he expected Weaver to reopen the case. He also expects Weaver to re-appoint him as trustee to oversee the case. Mashburn said the judge's order allows creditors to try to recover additional funds from Terrill's estate. Oklahoma Ethics Commission reports show Terrill was reimbursed between $9,800 and about $11,000 for campaign expenses.
Terrill has stated that he nor his wife have a problem with the case being reviewed.

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