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Michael Vick files for bankruptcy

NEWPORT NEWS, Va. (UPI) -- Former NFL star Michael Vick, whose career was sacked last year by a federal dogfighting conviction, has filed for Chapter 11 bankruptcy in a Virginia court.

Vick, who is currently serving a 23-month prison sentence in Leavenworth, Kan., filed the papers seeking protection from his creditors on Monday, the Newport News Daily Press reported Tuesday.

In court documents, Vick listed assets between $10million and $50 million and liabilities in the same range, with 30 creditors listed. Included were $4.5 million to a Richmond sports agent in a disputed breach of contract lawsuit, $3.75 million sought by the NFL's Atlanta Falcons from Vick's signing bonus, and $2.5 million remaining on a loan from the Royal Bank of Canada.

Copyright 2008 by United Press International

This news arrived on: 07/08/2008

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