Vick files for bankruptcy protection -Falcons among 7 creditors listed in federal court filinig

[clevfan]

Vick files for bankruptcy protection

Falcons among seven creditors listed in federal court filing

By STAFF REPORTS
The Atlanta Journal-Constitution
Published on: 07/08/08

Michael Vick filed for Chapter 11 bankruptcy protection in federal court in Virginia Monday, citing debts of $10 million to $50 million.

One of the creditors listed in the court papers filed by the imprisoned Falcons quarterback is the Atlanta Falcons for a claim of $3.75 million as a pro-rated signing bonus. The claim is listed as disputed.

Of the six other creditors listed in the court documents three are banks, including two that recently won judgments against Vick. The largest creditor is Joel Enterprises, Inc. with a claim of $4.5 million. That claim is also listed as disputed.

Calls to Vick's attorney listed in court documents, Paul K. Campsen of Norfolk, Virginia, and the Falcons where not immediately returned.

Vick is currently serving a 23-month prison sentence in Leavenworth, Kansas for his guilty plea in federal felony charges related to dogfighting. His release date is July, 2009.

According to court documents, upon his release from prison Vick "will return to his home in Hampton, Va. and will seek to rebuild his life and career."