Evander Kane has had a tremendous season for the San Jose Sharks, recording a team-best 45 points in 52 games. The achievement is all the more impressive given the safe assumption that Kane’s focus has not solely been on hockey this year. The star forward has been mired in Chapter 7 bankruptcy proceeding all season, filing in January and then in March motioning for an extension on the decision until June on the grounds that his contract with the Sharks could be terminated following the end of the season. While it remains to be seen whether this in fact occurs or not, the latest development in the case has the bankruptcy court deciding that Kane’s case will remain in Chapter 7 as opposed to Chapter 11. A lender had filed a motion for Kane to be treated as a business under Chapter 11 due to his debt mostly coming from gambling losses. Such a decision would have opened up Kane’s future income to his lenders in the bankruptcy decision, but such an outcome was avoided.
At least one lender has decided that if they can’t get to Kane’s future earnings via bankruptcy decision, they’ll go after a greater return on their defaulted loan another way. Per The Athletic’s Daniel Kaplan, Professional Bank has sued Kane for $15MM, alleging fraud on the basis of misrepresenting the Sharks’ role in his repayment plans. This amounts to ten times their initial loan due, justified as “punitive damages.” This is highly irregular in a case such as this, as punitive damages are not substantiated by a claim but rather are meant as punishment. Punitive damages to this massive extent are very unlikely to be awarded, especially with Kane’s bankruptcy proceeding still ongoing, but Professional Bank will try their best.
- Winning a national championships comes with some added perks, the least of which is increased recruiting power. Defending champs UMass flexed their newfound market power today, convincing potential 2021 first-round pick Scott Morrow to flip on his commitment to North Dakota and got to Amherst. Multiple sources have confirmed the move, with the talented right-handed defenseman moving from one powerhouse to another. Morrow was expected to join a deep group of NHL-caliber defensemen at UND this year, but will have more of an opportunity to shine as a top blue line option at UMass. It has worked out nicely for Cale Makar, Mario Ferraro, Zac Jones, and several other NHL prospects over just the last few years.
- Eric Tangradi, Real Estate Agent? In a unique twist, former NHL winger Tangradi announced his retirement by transitioning it into the reveal of his new career. A big, powerful winger who appeared to have NHL chops early in his career, Tangradi never could quite translate his AHL production to the next level. He still managed to play in 150 NHL games with the Penguins, Jets, Canadiens, Devils, and Red Wings, but recorded just 16 career points. Tangradi will likely be remembered more for his many years of dominance in the minors, recording over 350 points in 488 career NHL games.