Evander Kane’s story about his bankruptcy case continued on Tuesday a report from The Athletic’s Daniel Klan on that a lender is suing the Sharks player for $ 15 million plus attorney’s fees. in January and demanded $ 26.8 million of total debt.
Professional Bank, the lender suing Kane, claims he defrauded the company in the process of securing a $ 1.5 million loan. The amount they are asking for in the case is 10 times as much as the loan due to “punitive” damages per. Report.
“Around the same time, Kane also borrowed huge sums from other banks, including Centennial Bank, Zion’s Bancorporation and South River Cital,” the lawsuit states. “Kane also inflicted huge amounts of debt on other creditors. For all reasons, the plan at the time was that these amounts should never be paid or repaid.”
Part of the concern stems from how the loan was tied to his $ 49 million seven-year contract with San Jose signed in 2018. It also didn’t help that the first interest payment never came. Professional Bank claims as a result that the player “was in default” and made claims similar to other lenders who had offers where they would be paid directly by the sharks.
“Kane was in default, including by recalling the automatic payment to be made from the sharks,” claims Professional Bank.
A lawyer The Athletic spoke with called this move “very unusual.” At the same time, this trait, which was called truly “emotional” by the lawyer in question, seems to fall in line with how this process has painted Kane to be a problem gambler and liar in his loan applications. The wing has responded to these allegations, saying he has been honest during this process and is receiving treatment for his gambling problem. This case comes a few weeks after a bankruptcy judge ruled that creditors could not get in on Kane’s future earnings, even though two lenders are piling that decision.