Imprisoned Vick files Chapter 11 bankruptcy
Bankruptcy
Seven months after Michael Vick was sentenced to federal prison, the fallen Falcons quarterback found himself in a “precarious financial position” and filed for bankruptcy. One of his creditors is the Falcons.
In Chapter 11 documents filed in federal court in Virginia on Monday, Vick cites debts of between $10million and $50million. He also cites assets in the same range.
In the court documents, Vick lists seven creditors, including the Falcons, that are owed a total of $12.8million. The debt to the Falcons is for $3.75million, listed as a prorated signing bonus. The documents indicate the claim is disputed.
A Falcons spokesman said the team would not comment on Vick's bankruptcy.
Vick is serving a 23-month sentence in Leavenworth, Kan., for his guilty plea in federal court to felony charges related to dogfighting. His release date is July20, 2009.
The largest of Vick's creditors is Joel Enterprises with a claim of $4.5million. Andrew Joel, a Richmond, Va., sports agent, filed a lawsuit against Vick in 2006 claiming he reneged on an endorsement deal agreed upon after he left Virginia Tech early for the NFL.
Another creditor listed is Radtke Sports, of Woodstock, Ga., for $550,000. According to the attorney for Radtke Sports, which sells sports memorabilia, Vick had an exclusive autograph deal with the company and he can no longer fulfill his obligation because of his imprisonment.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.