A Hot Springs man is asking the Arkansas Supreme Court to revive his lawsuit challenging a university's loan to the Oxford American magazine, arguing the textbook revenues and other cash used to pay for the loan are public funds.
Justices heard oral arguments Thursday in James McCafferty's appeal of a lower court's dismissal of his lawsuit challenging the University of Central Arkansas' $700,000 loan to the magazine.
An attorney for Oxford American told justices McCafferty doesn't have standing to challenge the loan because the funding didn't come directly from tax dollars. McCafferty's attorney argued the money is public because it is produced at a public university.
UCA says the magazine has repaid $276,000 of the loan.