Thanks to the good folks at TMZ, we are able to provide an update on the financial proceedings with respect to both Stephon Marbury and Antoine Walker. It's a little bit of a good news/bad news situation, so let's start with the good news.
Antoine Walker's bankruptcy proceeding is over!
The former NBA star — who was $12.7 million in debt despite reportedly making $110 million in his NBA career — was discharged from bankruptcy by a Federal judge on March 21.
As part of the case, Walker completed a personal finance management course on March 16, perhaps a sign he's ready to turn over a new financial leaf.
Except, maybe not. He may have given his ex-fiancee $500,000 in some kind of amateur money-laundering attempt that the bankruptcy trustee is still pursuing. But other than that, the $12.7 million in debt is discharged. Way to go, Antoine!
Now, for the bad news. Stephon Marbury's Los Angeles home—which he owed $3.1 million on—was just sold at foreclosure auction for $2.7 million. That, if you've been paying attention, is less than what he owed. According to documents obtained by TMZ, however, it is unclear whether the bank will pursue Marbury for the balance or just consider it settled. Either way, he's homeless in Los Angeles.
This concludes your semi-irregular update on the financial solvency of former NBA stars turned trainwrecks.
Stephon Marbury Loses L.A. Home At Foreclosure Auction [TMZ]
Former NBA Star Antoine Walker Free and Clear in Bankruptcy Case [TMZ]