From the Las Vegas Review-Journal about one of my journalist heroes:
John L. Smith, the Review-Journal’s most widely read columnist, has filed for bankruptcy after a two-year legal battle with Sheldon Adelson, owner of The Venetian resort.
Adelson is suing Smith and his book publisher, Barricade Books, and alleging libel based upon Smith’s 2005 book "Sharks in the Desert: The Founding Fathers and Current Kings of Las Vegas." The Review-Journal was not named in the lawsuit.
"My family managed to survive childhood cancer and all the medical bills that go with it," said Smith, 47. "But how do you fade the sixth-richest man in the world?"
Smith took the step Wednesday after negotiations broke down for a settlement agreement.
"We had every reason to believe this case was going to settlement and were led along with false promises," Smith said. "When it became obvious they didn’t intend to settle, we were caught unprepared to go to trial." The bankruptcy will stay the libel lawsuit long enough to prepare and perhaps pay for a defense, Smith said.
The trial was scheduled to start Monday in Los Angeles Superior Court. Martin Singer, the lawyer representing Adelson, said the case has been continued to Feb. 4 because of the bankruptcy petition.
Smith’s initial petition said he has assets of $425,400 and liabilities of $15,644,671, including a $15 million potential judgment against him by Adelson.
