The Royal Bank of Canada has filed suit against Michael Vick for more than $2 million.
The bank said Vick took out a $2.5 million loan to invest in real estate in January. According to the bank, when Vick was suspended from the NFL, he violated terms of his loan contract.
There is a clause in the contract that specifies if Vick experiences a change in employment that may affect his ability to repay his loan, that constitutes a default.
The lawsuit is seeking the remaining $2.3 million Vick owes, plus $499 daily interest and money to cover legal fees.
Source: Daily Press