HOT SPRINGS, Ark. (AP) - A foreclosure lawsuit against the Hot Springs Documentary Film Institute has been withdrawn and the organization is making changes in the hope of a stable financial future.
Board chairman Susan Altrui said Friday that a new slate of board members was able to show Avest Bank that the festival has put sounder financial controls in place.
The Sentinel-Record reports that the organization plans to sell the Malco Theater which has served as the festival's key location.
Altrui says she thinks a buyer can be located who will preserve the theater and continue to let the festival use it for festival screenings.
Altrui says the organization has to make financial progress to survive.