November 14, 2008 6:00 AM
Crowell & Moring Lawyers: Mike Vick Will Play in NFL Again
Posted by Brian Baxter
When we last caught up with former Atlanta Falcons quarterback Michael Vick, currently serving a 23-month prison sentence on federal dogfighting charges, the ex-NFL speedster was filing for Chapter 11 protection in U.S. district court in Norfolk.
Now Peter Ginsberg and Mark Lichtenstein--Vick's bankruptcy lawyers at Crowell & Moring--are claiming in court documents that their client intends to play in the league once again, according to The Associated Press.
It's all part of Vick's plan to pay off creditors to whom he has an estimated $20 million in liabilities. Bankruptcy records cited by The AP show that Vick has roughly $16 million in assets tied up in various properties, automobiles, and businesses. Documents filed with the court also list payments made to extended family members. (For a breakdown of Crowell & Moring's fees and Vick's largest creditors, check out one of our earlier stories about the matter.)
"The debtor has every reason to believe that upon his release [from prison], he will be reinstated into the NFL, resume his career, and be able to earn a substantial living," say Vick's lawyers in a filing detailing the debtor's reorganization plan. NFL commissioner Roger Goodell--his brother, Timothy, serves as global cohead of White & Case's M&A group--would have to approve Vick's application for reinstatement.
Along with the liquidation of larger assets, Vick's lawyers claim future NFL earnings will help creditors recoup money from their client, whose release date from a federal prison in Leavenworth, Kansas, is tentatively scheduled for July 2009. The Oakland Raiders have been mentioned as one team possibly interested in signing Vick, who remains under contract with the Falcons and was once the league's highest-paid player.
If Vick and his creditors can't agree on a payment plan by December, U.S. bankruptcy judge Frank Santoro will hold a hearing on the appointment of a trustee--a move, The AP reports, that Vick's lawyers oppose.
Vick is also scheduled to appear in Surry County Circuit Court on November 25 to face state charges of dogfighting and animal cruelty. A widely reported plea deal would allow him to serve a suspended sentence. Vick's primary criminal attorney continues to be Sutherland Asbill & Brennan's William "Billy" Martin.Make a comment