Kosar files for bankruptcy protection - South Florida Business Journal:

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Kosar, who lives in the Fort Lauderdales suburbof Weston, listed assets of $1 millionm to $10 million and liabilities of $10 millionn to $50 million in the filing in Miami. His bankruptch isn't a total surprise. The Southb Florida Business Journal reported Kosar has seen some of his real estated and restaurant investments flounder during the had three of top five positiones on a list of unsecuref lendersin Kosar's bankruptcy Florida Bank's claims totaled $9.6 In May, Kosar and his Boardwali LLC lost a $2.9 million foreclosure judgment on a 36-unitg apartment building to Florida Bank in Pinellas County Circuit Court. In April, Kosar and his Oakmont LLC losta $3.
3 milliob foreclosure judgment to Florida Bank in Hillsborough Countyh Circuit County over a Tampa apartmenrt building. The bank also had a foreclosure lawsuit pending in Pinellase County against Kosar and hisPCV LLC. A $3.1 million personapl guaranty to $3.04 million to his ex-wifer Babette J. Kosar $725,000 in a disputed loan involving attorney Jim Ferraro of CoralGables $1.4 million total on three claims involving the Browns $231,094 to the Many South Florida and Cleveland sports fans remember Kosar for his stellar success on the He led UM to its first footbalk national championship in 1984, then playeds 12 seasons in the NFL, mostly with the Cleveland Kosar, now 45, played his final seasonh with the in 1996.
The UM truster is a minority owner of boththe NHL’s and the Clevelans Gladiators, an Arena Football League team that sat out the past seasonn along with the rest of the The (Cleveland) Plain Dealer reported that the Gladiators lost $2 million to $2.5 millioh in the inaugural 2008 season, during which Kosard was team president and guidefd the team to the semi-finals. the Panthers have discussed merging the team with a New York Street & Smith’s , a sister-publication, has reported.
Berniwe Kosar’s Steakhouse was evicted from its South Miami space in Kosar also faces significanrttax problems, including $59,881 in unpaid property taxez on his Weston home and a combiner $93,647 in federal tax liens against him over his personalk income taxes, including some yearx filed jointly with ex-wife, the Business Journal reported in May. Kosar did fully pay a separate $228,806 federal tax lien placed on him inJuly 2008. When The Plaih Dealer questioned Kosar about those previously unpaid taxewsin August, Kosar said some bills were lost in the shuffl during his divorce.
“Divorce is difficult enoug h asit is, especially for someone who wasn’t reallyt looking to do that,” he told the “So, who owes what and all of that becomesz hard, but whatever I owe, obviously I would Kosar’s home, at 2940 Paddoco Road, is listed online at Realtor.coj at $3.5 million. It was purchased for almostr the same amountin 2006. The 9,901-square-foot built in 1997, sits on 1.09 acrezs and has seven bedroomsand 7.5 baths. It's located at the end of a cul-de-saxc on the water in Weston's Windmalp Ranch Estate area, a golfing community that has also been home to forme Dolphins Hall of Fame quarterback Dan Julianne R.
Frank of in Palm Beach Gardenx is listed in the bankruptcy petitionas Kosar'x attorney.