Judge rejects Vick plan to emerge from bankruptcy

April 3, 2009 1:56:36 PM PDT
A federal bankruptcy judge has rejected suspended NFL star Michael Vick's plan to emerge from bankruptcy. Judge Frank Santoro gave Vick more time Friday to figure out how he can revise the plan. Vick's plan was based on the goal of returning to professional football after he is released from prison, but the judge says there is no guarantee that will happen.

The judge suggested Vick start by considering liquidating one of his two Virginia homes and three cars he had planned to to keep. Santoro didn't set a deadline for a new plan. A status hearing is the case is scheduled for April 28.

Vick is serving a 23-month sentence for bankrolling a dogfighting ring. Vick is expected to be released from custody in July.

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