Developer of SW Mo. Racetrack Files for Bankruptcy
FORSYTH, Mo. (AP) - The developer of a controversial racetrack near Branson has filed for Chapter 11 bankruptcy.
Russell Cook and his wife, Wanda, own land south of Hollister in Taney County that had been approved for a 1.25-mile track and an adjacent road course would host a variety of events about 200 days each year.
The Springfield News-Leader reports the couple recently filed for bankruptcy, leaving plans for the track uncertain.
Nearby residents and Big Cedar Lodge officials strongly opposed the track plans but Taney County officials approved a special permit for the project last year.
Court filings show the Cooks owe as many as 49 creditors between $1 million and $10 million. The Cooks' net worth is estimated between $10 million to $50 million.