Vick Files For Bankruptcy Protection

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RICHMOND, Va. -- Imprisoned quarterback Michael Vick is seeking bankruptcy protection, saying he owes between $10 million and $50 million to creditors.
Vick filed Chapter 11 papers in U.S. Bankruptcy Court in Newport
News on Monday. The seven largest creditors listed in the court
papers are owed a total of about $12.8 million.
Vick is serving a 23-month prison sentence at the U.S.
Penitentiary in Leavenworth, Kansas, after pleading guilty last
year to bankrolling a dogfighting ring. He was subsequently
suspended indefinitely without pay and lost all his major sponsors,
including Nike. He also faces state charges related to dogfighting.
According to the filing, the debt includes a $3.75 million
prorated signing bonus the Atlanta Falcons are seeking to recover.



 
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