3 firms owned by former NFL player Kosar have filed for bankruptcy

Besides the personal bankruptcy petition Bernie Kosar filed Friday, three companies he owns or controls have filed for Chapter 11.

KHOC LLC, BJK LLC and Mantua Land Co., which list their addresses as Kosar's Weston home, are seeking to reorganize their debts under bankruptcy-court protection in Fort Lauderdale.

Julianne R. Frank, Kosar's lawyer, has asked the court to consolidate the four cases. Frank, in an interview Monday, said she's hopeful Kosar's equity in the companies ``will put us in a position to consummate a successful restructuring.''

KHOC holds Kosar's interest in the Florida Panthers, which reportedly is close to being sold for $240 million. Kosar is a minority owner in the hockey team.

BJK owns interests in various properties in St. Lucie County, while Mantua Land owns property in Ohio, Frank said.
Kosar, who was born in Ohio, starred at quarterback for the University of Miami and in the NFL with the Cleveland Browns. He also played for the Dallas Cowboys and Miami Dolphins before retiring in 1996. He has had various business interests since leaving football.

In a statement released Friday, Frank's law firm said the recession and the collapse of the real estate market were to blame for forcing Kosar to file for bankruptcy so he could attempt to restructure his personal and business financial affairs.

Kosar's personal bankruptcy case listed unsecured creditors with about $19.5 million in claims.



(miamiherald.com)