More financial troubles for Michael Vick. Wachovia Bank has filed a federal lawsuit claiming that Vick defaulted on a $1.3 million loan for a wine store.
The suit stated that the bank loaned Vick, partner Gerald Frank Jenkins and Atlanta Wine & Package LLC $1.3 million and that the default exists “when a material adverse change has occurred in the business or prospects of Defendant Vick, financial or otherwise, as determined by the bank in its sole discretion.”
Vick and Jenkins opened Atlantic Wine & Spirits, and the adjoining Tasting Room restaurant last March.
According to the lawsuit, Atlantic Wine has defaulted by not making monthly payments of principal and interest, and that Vick’s obligations “are impaired due to recent events involving Defendant Vick.”
Wachovia bank stated that they are owed $937,907.61 in principal, along with $1,876.60 in interest and fees.
In other Vick-related news, a inmate in South Carolina has filed a lawsuit against Vick claiming he took his dog.
Matthew Stephan McCormick said he gave his dog, Clubber, to Vick for breeding in early 2006. He said he could not reach Vick to get his dog back.
McCormick is seeking the return of Clubber and $105,000 in damages.
Source: Atlanta Journal-Constitution
(Thanks menusux, Irene)