Ch. 7 Lessons From Evander Kane Bankruptcy

Law360 (June 22, 2021, 4:35 PM EDT) -- Evander Kane is a professional hockey player for the San Jose Sharks. He is an 11-year NHL veteran and had accumulated over $50 million in career earnings from his NHL salary alone. In 2018, he signed a seven-year contract extension for $49 million.

On Jan. 9, Kane filed a voluntary Chapter 7 bankruptcy petition.

Before the filing, Kane borrowed millions of dollars and spent millions of dollars on an extravagant lifestyle. He lost millions of dollars gambling in recent years and pays nearly $9,000 per month for luxury vehicles. His monthly spending is in excess of $93,000, and he has scheduled...

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