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Wachovia Sues Vick Over Unpaid Restaurant Loan

Posted: 12:43 pm EDT October 15, 2007Updated: 2:30 pm EDT October 15, 2007

Add Wachovia to the growing list of creditors blitzing Michael Vick.

The bank is suing the suspended Falcons quarterback and a business partner for nearly $940,000, claiming the two have defaulted on a $1.3 million loan for Vick's restaurant and wine store in East Point.

The Tasting Room, an upscale restaurant, opened earlier this year with Vick as a major investor. The restaurant is affiliated with Atlantic Wine & Spirits, an adjoining wine store in East Point.

Both operations are owned by Frank Jenkins, a retired surgeon, who brought in Vick as an investor.

The Tasting Room and the wine shop remain open for business.

Wachovia will have to get in line to get money from Vick.

Last week an arbiter ruled the Falcons can collect nearly $20 million in bonus money paid to the disgraced player.

The Falcons argued that Vick, who pleaded guilty to federal charges for his role in a long-running dogfighting operation, knew he was in violation of the contract when he signed a $130 million deal in December 2004.

Vick and the NFL players union are appealing the ruling in U.S. District Court.

The Royal Bank of Canada is also suing Vick over an unpaid loan.

Their lawsuit claims that Vick defaulted on a $2.5 million real estate loan. That lawsuit was filed in Virginia.

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