Five creditors are alleging that Christian Laettner owes $14,051,927.80. The creditors filed an involuntary bankruptcy proceeding claim in the Durham Division of the U.S. Bankruptcy Court for the Middle District of North Carolina.
The Chapter 7 involuntary filing is different than most bankruptcy filings. Usually a debtor files bankruptcy to be forgiven of their debts to receive a fresh start. Involuntary bankruptcy claims are filed by the creditors, seeking to retrieve as many assets as possible. Laettner has 21 days to respond to the claim.
Once the king of college basketball, Laettner’s predicament has taken him to uncharted waters.
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