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Wednesday, July 8, 2009

M. Joseph Miller


Ex-Met Dykstra files for bankruptcy protection

Updated: July 8, 2009, 2:51 PM EDT
Facing divorce, foreclosure on his mansion and lawsuits, former major-league star Lenny Dykstra has filed for bankruptcy protection in California, citing more than $31 million in debts.

Federal court documents show Dykstra filed for Chapter 11 status on Tuesday. He listed assets of $50,000 or less and liabilities of between $10 million and $50 million.

Dykstra, whose lifestyle included a lavish house, a jet and a Rolls Royce, says he owes millions of dollars to his 20 largest creditors, many of them banks. His filing follows at least two dozen lawsuits over his business and financial dealings.

Among those claiming they were owed money are Dykstra's brother, two private jet rental companies, a former lawyer and several former employees, according to a New York Daily News report.

Dykstra's wife is also suing him for divorce, and his $18 million California mansion is in foreclosure, the newspaper reported.

"This action will provide Mr. Dykstra time to reorganize his estate (and) successfully challenge the multitude of meritless claims that have been made against him," his attorney, Walter Hackett, said in a statement.

Dykstra, nicknamed "Nails" for his rough-and-ready style, is a former All-Star who spent 12 years with the Mets and the Philadelphia Phillies. He won a World Series with the Mets in 1986.