A ruling by a federal bankruptcy court judge gave Primerock Real Estate Fund LP the choice to collect on a $820,000 claim against Batch by seizing property he used as collateral to secure debt to purchase real estate. In addition to the rings, the property includes Batch's stake in a house, assets in his living trust, a personal watercraft, tax refunds, sports memorabilia and jewelry.
However, just because Primerock could seize the property doesn't mean it will, particularly if the debtor is willing to make payments to keep it, Michael Shiner, chairman of the Allegheny County Bar Association's bankruptcy section, told the newspaper, adding the order is common in bankruptcy proceedings. Batch has indicated in court documents that he plans to retain the property and make payments.
Batch, 36, filed for bankruptcy in December, according to court documents, listing $8.29 million in liabilities and $2.3 million in assets. His real estate company, Batch Development Co. Inc., had 25 properties turned over to a court-appointed receiver after defaulting on a $1.15 million mortgage with Dollar Bank, the newspaper reported.
A member of the NFL Players Association executive committee, Batch made $855,000 last season in the first year of a two-year contract with the Steelers.
Lawyers for both sides couldn't be reached by the Tribune-Review for comment.