Michael Vick's Bankruptcy Plan Rejected By Judge

[Amerigo Vespucci]

The uncertainty surrounding the aging, suspended NFL star's return to pro football as well as vague book and film deals prompted a bankruptcy judge to reject Vick's Chapter 11 plan and order a new one.

This time, the judge wants a proposal based on the stark reality facing Vick: He has about $210,000 but owes $1 million in fees from the bankruptcy case and about $3.7 million in legal bills _ some $13,700 a day since he filed for Chapter 11 protection in July.

Vick also faces at least $200,000 in annual living expenses if he keeps two Virginia homes and three vehicles. His only guaranteed income is a $10-an-hour construction job that will be part of his probation when he is moved from federal prison to home confinement in May.

U.S. Bankruptcy Judge Frank J. Santoro considered those obligations and other expenses and concluded Vick would need to earn $7.5 to $8 million a year to break even over the next three years.

http://www.huffingtonpost.com/2009/04/04/michael-vicks-bankruptcy-_n_183197.html

[flvegan]

1. Ha! I hope the "fuck yous" keep coming, Vick.

Next plot, become creepy televangelist.

[rocktivity]

2. Ever heard of renting, Vick?

Either sell or rent your homes, and move into a rooming house!


:headbang:
rocktivity

[MrPerson]

3. He should just go Chapter 7 and start over.

He'll probably get to play in 2010

[emilyg]

4. I hope not.