A huge Victory for Evander Kane in his Bankruptcy Proceedings

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TJ Tucker
May 25, 2023 (3:00 PM)

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No matter how you slice it, it is a major win for Evander Kane of the Edmonton Oilers. A recent ruling in his bankruptcy proceedings, which have been going on for over two years, allows Kane to walk away from the majority of his debt.

"The story Evander Kane told about his financial predicament may not have peased his creditors, but Kane's testimony was thoughtful, coherent, and consistent with the extensive evidentiary record in this case." - Judge Stephen Johnson

When Kane filed for bankruptcy back in January of 2021, he listed debts of more than $28 million, and assets of just over $10 million. He settled with most of the creditors, but Centennial Bank, which was owed $8 million, decided to challenge it in court. The latest ruling means they lost. The bank can appeal, but there's no indication that might happen at this time.

Still Outstanding

While this is a huge victory for Kane, there are still some things outstanding. There is one lender left on the list with an active claim. There is also the claim made by former girlfriend Hope Parker that she is owed $3 million for abortions Kane insisted she have.

Kane admitted the debts were the result of a gambling problem that he said has since been resolved. The judge in the case called Kane's attempt to juggle finances mind-numbing.

"Kane's effort to stay afloat financially was almost mind-numbingly complicated. He relied on multiple streams of funding to cover his expensive lifestyle and gambling addiction; including his salary, loans from 'hard-money' lenders, and cash he received from individual lenders and gambling winnings.

"Hard money' refers to taking out loans with high interest rates.

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Did the Oilers make the right move signing Kane to a four-year deal?
Yes, he's proved he's changed	648	79.1 %
No, he's still the same guy he used to be	120	14.7 %
I'm not sure	51	6.2 %
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