Vick defaults on $2.5M loan from Canadian bank
Atlanta Falcons09/26/2007 10:02 AM The Atlanta Journal-Constitution reports a Canadian bank has filed a federal lawsuit against QB Michael Vick claiming that the Falcons quarterback has defaulted on a $2.5 million line of credit taken out earlier this year. According to the suit, filed last week in the eastern district of Virginia, Vick signed a promissory note payable to the Royal Bank of Canada on Jan. 18, and two days later executed a "borrower acknowledgement" stating that any advances would be for investiment in real estate, and that "such proceeds were not to be used primarily for personal, family or household purposes." Read more