Saturday, May 18, 2013

Latest news, weather, high school sports for Michigan’s Upper Peninsula

Vick bankruptcy plan offers more to creditors
Posted: 06.30.2009 at 1:07 PM
0
Photo

NORFOLK, Va. (AP) — Suspended NFL Star Michael Vick would give up more of his future income under a revised bankruptcy plan.

Vick's lawyer, Paul Campsen, disclosed the basic outline of the new plan Tuesday in U.S. Bankrupcy Court in Norfolk.

The full plan is still being finished. It's due to be filed by Thursday.

A judge in April rejected the first plan, saying it was not feasible.

Under the new plan, Campsen said 10 percent of the first $750,000 Vick earns would go to creditors. Under the old plan, Vick would have kept the entire amount up to $750,000.

The new plan also increases the amount it would pay creditors on income over $750,000.

Vick is currently in home confinement in Virginia for last two months of a nearly two-year sentence for operating a dogfighting ring.

 

Popular Stories
Thumbnail
Human Trafficking: It's here in the U.P.
Kelsey Niemisto  |  18 minutes ago  |  8 comments
Thumbnail
Man attacked by bear
Ty Czarnopis  |  43 minutes ago  |  28 comments
Thumbnail
Cliffs and Rio Tinto giving back to community
Andrew LaCombe  |  18 minutes ago  |  12 comments
Follow Upper Michigan's Source
Get news and weather notifications on your phone by downloading the iPhone or Android app below
Sign up to get alerts and updates for breaking news, severe weather, and deals:
submit
ADVERTISEMENT
Check This Out!
Automotive
Check out the Automotive section of Best Bets.
Home & Garden
Check out the Home & Garden section of Best Bets.
YooperTube
Share your video and pictures with others in the U.P.
Used Car Central
See what used cars are being sold in your area.
ADVERTISEMENT