Sunday, April 5, 2009

Judge rejects Vick's bankruptcy plan (AP)

In this Aug. 27, 2007 file photo, Atlanta Falcons football player Michael Vick leaves federal court after pleading guilty to a dogfighting charge in Richmond, Va. Suspended NFL star Michael Vick has left a federal lockup in Kansas, apparently bound for Virginia for a bankruptcy hearing next week. The U.S. Bureau of Prisons Web site shows that Vick is no longer at the federal penitentiary in Leavenworth, Kan. It lists his status as "in transit."

Michael Vick's plan to emerge from bankruptcy simply didn't add up. 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...




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[Source: Yahoo! Sports - NFL News - Posted by FreeAutoBlogger]

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