On June 25, 1999, approximately 1847 central daylight time, a Piper PA-23-250 twin-engine airplane, N6617Y, owned and operated by Odom Aviation, Inc., of Cabot, Arkansas, was substantially damaged during landing roll at the Odom Field Airport near Cabot, Arkansas. The flight instructor and the airline transport rated pilot receiving instruction were not injured. Visual meteorological conditions prevailed, and a flight plan was not filed for the 14 Code of Federal Regulations Part 91 instructional flight. The flight departed the Carlisle Municipal Airport, Carlisle, Arkansas, at approximately 1825. The operator reported in the Pilot/Operator Aircraft Accident Report, NTSB Form 6120.1/2, that the purpose of the flight was for the airline transport rated pilot to receive a check out in the aircraft. The operator further reported that the airline transport rated pilot was at the controls of the aircraft at the time of the accident; however, the flight instructor reported to the FAA inspector that he was the pilot at the controls. The airline transport rated pilot reported to the FAA inspector that the aircraft landed to the west on the 2,640-foot sod runway, at approximately 75 mph. After touchdown, the flaps were retracted, and the brakes were applied. However, there "appeared to be no brakes." The brakes were pumped, and again there "appeared to be no brakes." As the aircraft neared the east end of the runway, "the aircraft was ground looped to keep from crossing Kerr Road and going into the trees." The aircraft exited the runway to the left, crossed a ditch, and came to a stop in the eastbound lane of Highway 321. A witness reported to the FAA inspector that the airplane landed halfway down the runway. Examination of the aircraft by the FAA inspector revealed that the left and right main landing gear had collapsed damaging their respective wing spars. The FAA inspector examined the brakes and performed an operational check. No preexisting anomalies were found, and the brakes functioned properly.