Documents have been filed in the District Court of Colorado U.S. Bankruptcy Court for former Altus businessman Paul Harold Doughty. The Notice of Chapter 7 Bankruptcy gives notice that a meeting of Doughty's creditors will be held Thursday, Sept. 23, at 2:30 p.m. The proceedings will be held in the U.S. Custom House, 721 19th St., Rm 125, Denver, Colo. (CO, 80202). Doughty will be representing himself in the matter and David V. Wadsworth of Denver has been selected as Doughty's bankruptcy trustee.

Doughty had been President of the former First State Bank and FSB Bancorp. These two entities are not associated with current The First State Bank of Altus, a Branch of the Herring Bank.

Doughty arranged for loans to be made to the now bankrupt Quartz Mountain Aerospace (QMA/Luscombe Aircraft). Doughty and his Vice President of FSB Bancorp, F. Don Anderson have been on many boards together, including Altus Ventures, QMA/LAC, Mountain Adventure Property Investments LLC, Oasis Development, 4-S Developing and other companies.

Doughty, who has been residing in Santa Fe, N.M., has owned a home in Colorado Springs and has been listed as a member of the Phoenix Company.

According to First State Bank of Altus President Larry McLaughlin, Doughty's bankruptcy will not have any impact on their bank, which is a branch of Herring Bank. The Herring Bank was founded in 1899 in Vernon, Texas.