Broke, Not Broken

Homer Maxey’s Texas Bank War

Broadus Spivey, Jesse Sublett

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English

Texas Tech Press,U.S.
30 May 2014

History of the Americas; Banking law; Bankruptcy & insolvency

Series: American Liberty and Justice

Homer Maxey was a war hero, multimillionaire and pillar of the Lubbock, Texas, community. During the post-World War II boom, he filled the West Texas horizon with new apartment complexes, government buildings, hotels, banks, shopping centres and subdivisions.

On the afternoon of February 16, 1966, executives of Citizens National Bank of Lubbock met to launch foreclosure proceedings against Maxey. In a secret sale, more than 35,000 acres of ranch land and other holdings were divided up and sold for pennies on the dollar. By closing time, Maxey was penniless.

Maxey sued the bank and every member of the board of directors, including long-time friends and business partners. Almost fifteen years, two jury trials and nine separate appeals later, the case was settled on September 22, 1980.

Broke, Not Broken, the story of this record-breaking, precedent-setting legal case, illuminates a community and a self-styled go-getter who refused to back down, even when his opponents were old friends, well-heeled leaders of the community, a bank backed by powerful Odessa oil men and the most formidable attorneys in West Texas.

By: Broadus Spivey, Jesse Sublett
Imprint: Texas Tech Press,U.S.
Country of Publication: United States
Dimensions: Height: 229mm, Width: 152mm, Spine: 33mm
Weight: 800g
ISBN: 9780896728554
ISBN 10: 0896728552
Series: American Liberty and Justice
Pages: 352
Publication Date: 30 May 2014
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

Broadus Spivey has been practising law for over fifty years. He currently lives in Austin but began his law career in Lubbock, where he was acquainted with many other principal figures involved in this book, including attorneys on both sides of the case, the judges, Homer Maxey himself, and Maxey’s daughter, Glenna Goodacre. Jesse Sublett is a writer and musician in Austin. He has published numerous crime novels and nonfiction books and has written dozens of historical documentaries. His journalism has been published in the New York Times, Texas Monthly, Texas Observer, Texas Tribune, and the Austin Chronicle.

Reviews for Broke, Not Broken: Homer Maxey’s Texas Bank War

Homer Maxey s was a bank war of a different kind. Wrongful foreclosure and the litigation hold-up game stretched his resources but not his tenacious desire for economic justice. This is an odyssey of civil litigation and personal will. Gordon Morris Bakken, from the foreword