<Michael Vick in Court Again for Violating Terms of Bankruptcy

Posted on July 23rd, 2010 No Comments

Michael Vick is not a stranger to the courtroom. From dogfighting to the shooting after his birthday party, trouble seems to follow this star athlete. He will once again be appearing in a courtroom, this time for violating the terms of bankruptcy.

According to ESPN, “In the new proceeding filed against Vick in Newport News, Va., his bankruptcy trustee asserts that instead of paying what he owed to numerous creditors as he faced the dogfighting charges and likely bankruptcy, Vick made payments to his mother, the mothers of his three children, his sister and his brother.”

Bankruptcy law does not allow for one to give away gifts before paying back creditors. These gifts are called “voidable preferences.” If the trustees do determine that these monetary gifts were viable money to give to creditors to settle his estate, then they can try to regain the funds.

If you or someone you know is facing bankruptcy, contact a New Orleans Bankruptcy Attorney at The Law Offices of Kervin and Young, LLC, by dialing 504-599-5906.

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