Exclusive: Bankruptcy of Edwards challenger Bill Flores' business cost taxpayers $7.5 million

WASHINGTON — The Republican challenger who has assailed Rep. Chet Edwards for supporting taxpayer bailouts once led his company through a bankruptcy that let it avoid a $7.5 million debt to the U.S. government. Although Bill Flores, a retired Bryan energy executive, has said all creditors were fully repaid with interest, court records show otherwise. The 1992 bankruptcy allowed Marine Rig 200 Inc. to repay just $3 million of $10.5 million owed to the U.S. Maritime Administration, which held the mortgage on a drilling rig the company owned.

Dave Michaels reports: http://dallasne.ws/cGqVh3