Bankruptcy

Disgraced Former Durham Prosecutor Mike Nifong Files Bankruptcy Petition

By Scott Riddle

The Raleigh News & Observer story, by staff writers Anne Blythe and Matt Dees,  is here.  You can download a copy of the 80 page petition and schedules by clicking here.

Mike Nifong, the fallen district attorney who lost his job and his career over his zealous prosecution of the Duke lacrosse case, filed for bankruptcy protection Tuesday in federal court, a move described by one legal expert as "throwing in the towel."

In the filing, Nifong listed assets of $243,898 and debt of $180.3 million -- including $30 million to each of the six lacrosse players who have sued him.

The document was filed on the deadline day for Nifong and other defendants to respond to allegations in a civil suit filed by the three exonerated lacrosse players that Nifong pursued criminally for most of 2006 -- Dave Evans, Collin Finnerty and Reade Seligmann.

"He's basically throwing in the towel" on the lawsuits, said Jeb Jeutter, a Raleigh lawyer whose area of expertise is debtors' and creditors' rights. "He has said either I don't want to or I don't have the resources to defend this lawsuit so I will file bankruptcy and I can walk away with the exempt assets I have." ....

Full post as published by Georgia Bankruptcy Blog on January 16, 2008 (boomark / email).