Friday, April 3, 2009

Michael Vick’s Bankruptcy Plan Rejected

Fallen NFL star Michael Vick told a bankruptcy judge Friday that he became a changed man in prison and is determined to do all the right things upon his release from prison, including repaying his creditors with the millions he hopes to resume earning in professional football.

But after more than three hours of testimony in which Vick laid out what he called his "exit strategy," U.S. Bankruptcy Judge Frank J. Santoro rejected it. Santoro told Vick to draft a new Chapter 11 plan, one with a bit more certainty.

Santoro said there is no guarantee the league will have the 28-year-old player back, and suggested he start on a new plan by considering liquidating one or both of his Virginia homes and three cars he had planned to keep.


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