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The co-owner of Gilley’s, the cavernous honky-tonk made famous in the movie “Urban Cowboy,” has filed for Chapter 11 bankruptcy protection--one day after he was to pay a $16-million judgment to the Pasadena, Tex., club’s namesake, country singer Mickey Gilley. According to documents filed at federal bankruptcy court in Houston, Sherwood Cryer has $500,000 in assets and owes $18 million--including the judgment a Houston jury awarded Gilley last month after the singer sued Cryer for back profits from the club, which they opened jointly in the 1970s. Gilley filed a second suit Thursday accusing Cryer of giving property-- including corporate stock, business enterprises, cash and inventory--to friends and relatives to avoid paying the previous judgment.
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