CLARIFICATION

A paraphrasing of a statement by columnist John L. Smith in a Friday news story may have left an inaccurate impression. The story said Smith believed bankruptcy would stay a libel lawsuit long enough to prepare and perhaps pay for a defense.

Smith believes he has strong and meritorious defenses and will ultimately prevail at trial. However, with the recent bankruptcy filing by publisher Barricade Books, Smith is simply unable to cure substantial arrears owed to his attorneys, or pay his attorneys for the substantial fees that will be incurred at trial. Accordingly, Smith had no choice but to file for bankruptcy relief with the objective of discharging Sheldon Adelson's libel claims in Nevada Bankruptcy Court and avoiding the costs and fees associated with going to trial in Los Angeles.