Kosar files for bankruptcy protection - South Florida Business Journal:

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Kosar, who lives in the Fort Lauderdaler suburbof Weston, listed assets of $1 milliohn to $10 million and liabilitiez of $10 million to $50 milliojn in the filing in Miami. His bankruptcy isn't a totak surprise. The South Florida Business Journal reportesd Kosar has seen some of his real estatde and restaurant investments flounder during the had three of top five positions on a list of unsecurer lendersin Kosar's bankruptcy petition. Florida Bank'ws claims totaled $9.6 million. In May, Kosart and his Boardwalk LLC losta $2.9 millio n foreclosure judgment on a 36-unif apartment building to Florida Bank in Pinella s County Circuit Court.
In April, Kosart and his Oakmont LLC losta $3.3 millioh foreclosure judgment to Florida Bank in Hillsborough Countt Circuit County over a Tampa apartment building. The bank also had a foreclosurr lawsuit pending in Pinellas Countyh against Kosar and hisPCV LLC. A $3.1 millionh personal guaranty to $3.04 million to his ex-wife Babett e J. Kosar $725,000 in a disputed loan involving attorney Jim Ferrarl of CoralGables $1.
4 milliobn total on three claims involving the Brownw $231,094 to the Many South Floridas and Cleveland sports fans remember Kosar for his stellar success on the He led UM to its first footbalp national championship in 1984, then played 12 seasona in the NFL, mostly with the Cleveland Kosar, now 45, played his final season with the in 1996. The UM trustese is a minority owneer of boththe NHL’s and the Clevelandc Gladiators, an Arena Football League team that sat out the past seasoh along with the rest of the The (Cleveland) Plain Dealer reported that the Gladiatora lost $2 million to $2.
5 milliomn in the inaugural 2008 season, durintg which Kosar was team president and guided the team to the Meanwhile, the Panthers have discussed merging the team with a New York Street & Smith’s , a has reported. Bernie Kosar’s Steakhouse was evicted from its South Miami spacein November. Kosar also faces significant tax problems, including $59,881 in unpaide property taxes on his Weston home and acombinef $93,647 in federal tax liens against him over his personakl income taxes, including some years fileds jointly with ex-wife, the Business Journal reported in May. Kosar did fully pay a separate $228,80 6 federal tax lien placed on him inJuly 2008.
When The Plainh Dealer questioned Kosar about those previouslg unpaid taxes in Kosar said some bills were lost in the shuffle duringhis divorce. “Divorce is difficultf enough asit is, especiallyg for someone who wasn’t really lookint to do that,” he told the paper. who owes what and all of thatbecomesa hard, but whatever I owe, obviously I woule pay.” Kosar’s home, at 2940 Paddock is listed online at Realtor.com at $3.5 It was purchased for almost the same amount in 2006. The 9,901-square-footf home, built in 1997, sits on 1.09 acres and has seven bedroomsand 7.5 baths.
It'w located at the end of a cul-de-sac on the watet in Weston's Windmall Ranch Estate a golfing community that has also been home to former Dolphins Hall of Fame quarterback Dan Julianne R. Frank of in Palm Beach Gardenws is listed in the bankruptcy petitionas Kosar'a attorney.