Michael Vick lawyers ask for mediator on finances Print
Written by Admin   
Friday, 03 October 2008 10:19
NFL Headline News

 NEWPORT NEWS, Va. (AP) - Lawyers for Michael Vick asked a federal bankruptcy judge on Friday to appoint a mediator to help settle his debts to creditors, saying a third party might expedite a resolution in the case.
Vick, once the highest-paid player in the National Football League, listened in silently by telephone from the federal prison at Leavenworth, Kan., where he is serving a 23-month sentence for a dogfighting conviction last summer that magnified his financial troubles.
The mediation proposal came near the end of a 90-minute pretrial conference to discuss Assistant U.S. Trustee Kenneth N. Whitehurst III's motion asking for a trustee to take control of Vick's assets as the bankruptcy case proceeds.
the NFL when he is released from prison next summer.
The assets that could be liquidated include four houses, other real estate holdings and cash, as well as future earnings if he is able to resume his football career.
Whitehurst argued that basing a settlement plan on potential future earnings was flawed.
``There are 110 unknowns on that front,'' he said, noting that even if Vick does resume his career, the tolls of age and being off the field for several years could be significant.
Vick attorney Paul Campsen said he had provided representatives of Vick's creditors with a proposed resolution, and the creditors countered with a proposal that was structurally similar, giving him hope for an agreement. The amount of the proposed resolution was not disclosed Friday.
Judge Frank Santoro told John McIntyre, representing the committee that includes numerous creditors, to see if mediation would be acceptable to them and then report back to the court.
With a go-ahead, Campsen said, he would file a motion seeking mediation by Monday.
``It ought to be a team effort where we're going forward with the same goal,'' Campsen said, echoing the judge's assertion that everyone in the courtroom was there for the same reason: to allow Vick to pay his debts, reorganize his finances and move forward.
hile Vick's side contended that it has taken months using forensic accountants to identify his assets, liabilities and the money he gave to others.
That amounts to $18 million in just the past two years, his lawyers said, and includes money they contend was taken from Vick without his consent by unscrupulous advisers.
``It's a long process,'' said Peter Ginsberg, another of Vick's lawyers. ``There were a lot of people with his or her hands in the till.''
``We have identified substantially all of the transfers that have occurred over the last two years,'' said Michael Blumenthal, one of three lawyers for Vick at the hearing.
Blumenthal disputed Whitehurst's assertion that the case is straightforward, saying it is ``unusual in light of the fact that we don't have a client in our office on a daily basis.''
Santoro rebuked Vick's lawyers for not yet figuring out Vick's finances and said it is unreasonable to expect that it will take much longer.
``If you do not fix that problem, I will,'' he said.
The judge order Vick's lawyers to finish their work by Oct. 24 and the next hearing will be held Nov. 13 in Norfolk.
 

NFL Team Pages

Recent NFL Discussions

Top NFL Public Bets

#1 463 New Orleans Saints 76%
#2 491 San Diego Chargers 74%
#3 488 Denver Broncos 71%
#4 485 San Francisco 49ers 71%
#5 260 Denver Broncos 70%
#6 480 Kansas City Chiefs 68%
#7 468 Pittsburgh Steelers 68%
#8 481 New England Patriots 67%
#9 242 Buffalo Bills 67%
#10 484 Tampa Bay Buccaneers 65%
View All: NFL |  NBA |  NCAAF |  NCAAB |  MLB |  NHL

NFL Futures

NFL TEAM CONFERENCE ODDS CURRENT
DENVER BRONCOS 9/4
NEW ENGLAND PATRIOTS 3/1
SEATTLE SEAHAWKS 17/4
SAN FRANCISCO 49ERS 9/2
INDIANAPOLIS COLTS 6/1
GREEN BAY PACKERS 6/1
NEW ORLEANS SAINTS 15/2
CHICAGO BEARS 15/2
PITTSBURGH STEELERS 12/1
PHILADELPHIA EAGLES 14/1
View All

Privacy Policy | Terms of Service | Contact Us | Advertising | 888-99-SPREAD

THIS IS NOT A GAMBLING SITE – If you think you have a gambling problem click here.

Disclaimer: This site is for informational and entertainment purposes only. Individual users are responsible for the laws regarding accessing gambling information from their jurisdictions. Many countries around the world prohibit gambling, please check the laws in your location. Any use of this information that may violate any federal, state, local or international law is strictly prohibited.

Copyright: The information contained on TheSpread.com website is protected by international copyright and may not be reproduced, or redistributed in any way without expressed written consent.

About: TheSpread.com is the largest sports betting news site in the United States. We provide point spread news, odds, statistics and information to over 199 countries around the world each year. Our coverage includes all North American College and Professional Sports as well as entertainment, political and proposition wagering news.

©1999-2013 TheSpread.com