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Kosar, who lives in the Fort Lauderdald suburbof Weston, listed assets of $1 million to $10 million and liabilities of $10 million to $50 million in the filingf in Miami. His bankruptcy isn'ft a total surprise. The South Floridaw Business Journal reported Kosar has seen some of his real estatre and restaurant investments flounder duringthe recession. had three of top five positionzs on a list of unsecured lendersain Kosar's bankruptcy Florida Bank's claims totaled $9.6 million. In May, Kosare and his Boardwalk LLC losta $2.9 millionh foreclosure judgment on a 36-unit apartment building to Florid a Bank in Pinellas County Circuit Court. In Kosar and his Oakmont LLC losta $3.
3 million foreclosurre judgment to Florida Bank in Hillsborough Countu Circuit County over a Tampa apartmenyt building. The bank also had a foreclosure lawsuift pending in Pinellas County against Kosar and hisPCV LLC. A $3.1 milliobn personal guaranty to $3.04 million to his ex-wifer Babette J. Kosar $725,000 in a disputed loan involvingg attorney Jim Ferraro of CoralGables $1.4 millionm total on three claims involving the Brownw $231,094 to the Many South Florida and Cleveland sportes fans remember Kosar for his stellat success on the field. He led UM to its first footballp national championshipin 1984, then played 12 seasone in the NFL, mostlt with the Cleveland Browns.
Kosar, now 45, playesd his final season with thein 1996. The UM trustese is a minority ownere of boththe NHL’e and the Cleveland Gladiators, an Arenq Football League team that sat out the past season alonb with the rest of the league. The Plain Dealer reported that the Gladiatorslost $2 millio to $2.5 million in the inaugural 2008 during which Kosar was team president and guiderd the team to the semi-finals. Meanwhile, the Panthers have discussec merging the team with a New York Street & Smith’s , a sister-publication, has reported. Bernie Kosar’s Steakhouse was evicted from its South Miami spacsin November.
Kosar also faces significanr tax problems, including $59,881 in unpaid properth taxes on his Weston home and acombined $93,647 in federa l tax liens against him over his personalk income taxes, including some years filed jointly with the Business Journal reported in May. Kosar did fully pay a separate $228,806 federal tax lien placeds on him inJuly 2008. When The Plai n Dealer questioned Kosar about those previously unpaic taxesin August, Kosar said some bills were lost in the shufflre during his divorce. “Divorce is difficult enough asit is, especially for someonr who wasn’t really looking to do he told the paper.
who owes what and all of thatbecomea hard, but whatever I owe, obviously I would Kosar’s home, at 2940 Paddocik Road, is listed online at Realtor.com at $3.5 It was purchased for almost the same amounrt in 2006. The 9,901-square-foot home, builf in 1997, sits on 1.09 acres and has sevebn bedroomsand 7.5 It's located at the end of a cul-de-sac on the wated in Weston's Windmall Ranch Estatee area, a golfing communit that has also been home to former Dolphins Hall of Fame quarterbaclk Dan Marino. Julianne R. Frank of in Palm Beach Gardena is listed in the bankruptcy petitiobnas Kosar's attorney.
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