Michael Vick files for bankruptcy

[normanvin]

Michael Vick files for bankruptcy



NEW YORK — Michael Vick, the former star National Football League quarterback serving a 23-month prison sentence for his role in a dogfighting ring, has filed for bankruptcy protection, court papers show.

Vick had debts of between $10 million and $50 million, according to a Chapter 11 petition filed on Monday with the U.S. bankruptcy court in Newport News, Virginia. His assets also totaled between $10 million and $50 million. The petition did not offer more specifics.

The filing came after Vick failed to resolve a legal dispute with one large creditor, Joel Enterprises Inc., which is owed $4.5 million for breach of contract, court papers show.

According to papers filed by Vick's lawyers, "the hope" is that Vick "can, after the conclusion of the bankruptcy case, rebuild his life on a personal and spiritual level, resurrect his image as a public figure, and resolve matters with the NFL such that he can resume his career."

Vick, 28, was the No. 1 pick in the 2001 NFL draft and a three-time All-Pro quarterback with the Atlanta Falcons.

He pleaded guilty last August to conspiracy in connection with an interstate dogfighting enterprise on his property in rural Virginia.

Vick may be released next summer from the U.S. Penitentiary in Leavenworth, Kansas, court papers show. He had faced a maximum five years in prison.

The NFL has suspended Vick indefinitely. Vick has lost an estimated $100 million in salary and endorsements from companies such as Nike Inc.

According to court papers, other large unsecured creditors include the Falcons franchise, which claims it is owed a $3.75 million pro-rated signing bonus, and Royal Bank of Canada, owed $2.5 million on a loan.

(Reporting by Jonathan Stempel; Editing by Daniel Trotta)

[Dredly]

Good, and any team that even considers hiring this idiot is going to lose fans like there is no tomorrow.

[Michele]

Vick makes me sick!

Oh, that rhymes.

[King 5.45]

I just wonder if Mikey still has his front teeth ...

[PAhunter]

<snip> His assets also totaled between $10 million and $50 million. <snip>
According to court papers, other large unsecured creditors include the Falcons franchise, which claims it is owed a $3.75 million pro-rated signing bonus, and Royal Bank of Canada, owed $2.5 million on a loan.

bold is mine

It would be nice to know the ASPCA or a local pet shelter was in line for some of this. They would put it to good use.

Jack

[knighthawk06699]

If that dirty son of a bitch every plays in the NFL again I am done with pro football. I hope that the courts reject hi application for bankruptcy. I hate you Mike Vick and you deserve everything you get and then some. You are a piece of shit you disgust me and I am embarrassed every time I see a kid walking around with your jersey on. You are the lowest form of life, I hope the creditors take everything you have and you are forced to do "bum fights" to live. Then when you lose on I hope soemone douses you with water and then electrocutes you, you fucking scumbag!!!!!

[mojo]

If that dirty son of a bitch every plays in the NFL again I am done with pro football. I hope that the courts reject hi application for bankruptcy. I hate you Mike Vick and you deserve everything you get and then some. You are a piece of shit you disgust me and I am embarrassed every time I see a kid walking around with your jersey on. You are the lowest form of life, I hope the creditors take everything you have and you are forced to do "bum fights" to live. Then when you lose on I hope soemone douses you with water and then electricutes you, you fucking scumbag!!!!!

Couldn't have said it better myself!

[King 5.45]

Wishing a violent death upon someone like Michael Vick lowers you to his level. He's screwed at this point, and probably couldn't even get a job as a casino greeter in Vegas. Karma will take care of him nicely enough without having to vent your spleen in such an ugly manner.

[MOUNTAINORACLE]

The POS got almost everything he deserved.
If I remember right the state of VA may also have a court date and some more jail time in store for him.

oracle

[knighthawk06699]

Wishing a violent death upon someone like Michael Vick lowers you to his level. He's screwed at this point, and probably couldn't even get a job as a casino greeter in Vegas. Karma will take care of him nicely enough without having to vent your spleen in such an ugly manner.

Freedomof speech is a great thing. Please don't ever try and compare me to him, telling some one he is a piece of shit and will not be missed is not even close tot he same. They are words he killed many innocent dogs for no other reason than the fact that they didn't make him money. I am a Pitt owner and lover I see the innocense in my dog's eyes. All they ever want is to please their maters and be loved. He betrayed a very sacreds trust and for that he deserves what ever he gets. Id he fell off the face of this planet he will not be missed.

P.S. It is free speech if you don't like it change the channel, for once I will not apologize for what I have said. But comparing me to him becuse I said he is a peice of shit and derserves the very punishment that he handed out is wrong.