Chris Neil owes $2.4M

Sportsnet Connected had a news story that Chris Neil owes $2.4M to creditors, including CRA and Scotiabank.

Dash wrote:Sportsnet Connected had a news story that Chris Neil owes $2.4M to creditors, including CRA and Scotiabank.

Only he doesn't.

Honestly, the media is Ottawa is just out of hand, it's awful.

i know he's not earning huge bucks but that's alot of money chris. after taxes, what do you make? 1.2?

ok, ok, not realy hockey news if you ask me but still. makes you wonder what he spent it on.

Investments gone bad.

SeawaySensFan wrote:

Dash wrote:Sportsnet Connected had a news story that Chris Neil owes $2.4M to creditors, including CRA and Scotiabank.

Only he doesn't.

What do you mean he doesn't> Obviously he does...

http://www.torontosun.com/sports/hockey/2010/06/07/14299846.html

Flo The Action wrote:i know he's not earning huge bucks but that's alot of money chris. after taxes, what do you make? 1.2?

ok, ok, not realy hockey news if you ask me but still. makes you wonder what he spent it on.

The same thing I would spend 1.2 million on: Hookers and booze!!!

http://www.sportsnet.ca/hockey/2010/06/08/neil_debt/
http://www.ruefrontenac.com/sports/hockey/23786-chris-neil-senateurs-ottawa-faillite

Dash wrote:http://www.sportsnet.ca/hockey/2010/06/08/neil_debt/
[url=http://www.ruefrontenac.com/sports/hockey/23786-chris-neil-senateurs-ottawa-faillite

http://www.ruefrontenac.com/sports/hockey/23786-chris-neil-senateurs-ottawa-faillite[/quote[/url]]

The Sportsnet Web Staff did a super job on that piece!

SeawaySensFan wrote:

Flo The Action wrote:i know he's not earning huge bucks but that's alot of money chris. after taxes, what do you make? 1.2?

ok, ok, not realy hockey news if you ask me but still. makes you wonder what he spent it on.

The same thing I would spend 1.2 million on: Hookers and booze!!!

my first thought but he's a family man... so gambling? no wonder dono dosen't say anything about his salary he's consistently winning neil's

Flo The Action wrote:

SeawaySensFan wrote:

Flo The Action wrote:i know he's not earning huge bucks but that's alot of money chris. after taxes, what do you make? 1.2?

ok, ok, not realy hockey news if you ask me but still. makes you wonder what he spent it on.

The same thing I would spend 1.2 million on: Hookers and booze!!!

my first thought but he's a family man... so gambling? no wonder dono dosen't say anything about his salary he's consistently winning neil's

Looks to me like the Company in question racked up the debts and he may, or may not, be on the hook for it.

It's not him that owes the money, it's the family business. Saying he's responsible for all of the 2.4 million is just wrong.

He is partially responsible, but it's sad that all of the creditors are looking for him to bail the entire family business out. There is a reason Donal Trump never loses all of his personal assets when one of his companies go under.

Unless Chris's personal accountant is a moron, he would have ensured that the his personal assests are insulated and not touchable by the businesses debts.

This is no different than any of the other players who have lent their name and some money to a business and it goes under.

No story here.

This is actually not even new news. He declared bankruptcy a while back (when his salary was about half what it is now). Yes, he's likely hardly involved in the business, and he probably should have had his agent look over the incorporation papers (sounds like it *wasn't* incorporated -- maybe a limited partnership would have been better?) But he still has some debts that sound quite personal -- like the $84K he owes the CRA. Bottom line, he declared bankruptcy for protection against creditors and the settlement offer is 20 cents on the dollar (maybe he should have said 20 cents on the dollar and you get to watch me beat the snot out of my idiot brothers).

Dash wrote:

SeawaySensFan wrote:

Dash wrote:Sportsnet Connected had a news story that Chris Neil owes $2.4M to creditors, including CRA and Scotiabank.

Only he doesn't.

What do you mean he doesn't> Obviously he does...

[url=http://www.torontosun.com/sports/hockey/2010/06/07/14299846.html

http://www.torontosun.com/sports/hockey/2010/06/07/14299846.html[/quote[/url]]

As I said, he doesn't.

The Neil's go into considerable detail about what really happened:

http://slam.canoe.ca/Slam/Hockey/NHL/Ottawa/2010/06/08/14315701.html

Flip Chipman is a stupid douchebag.

I can't help but find this quite funny. Sorry. Maybe it's because I'm really tired? This is directly from the Slam sports article.

"We were never bankrupty."