Football star Bernie Kosar’s assets will be sold off after a judge changed his bankruptcy case to liquidation in Fort Lauderdale.
Kosar is the former Miami Hurricanes and Cleveland Browns staring quarter back and after listing $9.2 million in assets and $18.9 million in debt in court documents that were filed in late September, U.S. Bankruptcy Judge Raymond B. Ray changed his bankruptcy case to liquidation a few days ago.
In June 2009 Kosar filed for bankruptcy protection after indicating that he owed the Cleveland Browns $1.5 million, his ex-wife $3 million, and more than $9 million to a bank for real estate deals that went bad.
Kosar retired from the NFL in 1996 and in 2009 his steakhouse went out of business. He is also reported as saying that he owed a “personal loan of $725,000 to the owner of the Cleveland Gladiators, an Arena Football League team.”
News
January 9, 2010New York Commercial Real Estate Plummets
