In case you missed the news yesterday, it was revealed that embattled NHL veteran Alex Galchenyuk is being sued by the Royal Bank of Canada (RBC) for $400,000 in a lawsuit that alleges Galchenyuk has breached conditions of a loan with the bank.
From the Journal de Montreal:
In June 2014, while playing for the CH, Galchenyuk allegedly took out a loan worth $299,466.88 in US dollars from the Bank, can we read in a motion to institute proceedings recently filed with the Montreal courthouse.
- Journal de Montreal
This represents in today's value approximately $395,714 in Canadian currency.
Galchenyuk's term has come due and he has failed to pay back the full amount.
More from the Journal de Montreal:
Last April, the Bank allegedly told him that he was in default, but he allegedly refused to pay the amount he owed to the banking institution.
"The defendant is in default under the terms and conditions of the loan in that it has failed to make certain payments, and the default has not been cured to date," the court document reads.
The Bank therefore now wants the person whose main residence is in Sunny Isles, Florida, to repay the entire loan, with interest at an annual rate of 9.2%.- Journal de Montreal
This, of course, is just the latest legal problem for Galchenyuk following his arrest earlier this month. The former 3rd overall selection in the 2012 NHL Entry Draft was arrested and charged by Phoenix police after allegedly crashing his vehicle while intoxicated. Galchenyuk then allegedly threatened police officers, stating that he'd 'end their bloodline with one phone call'. Galchenyuk also allegedly made racist remarks and threats to the arresting officer.
Galchenyuk has subsequently entered the NHLPA's Substance Abuse rehabilitation program and has committed to recovering from a chronic drug and alcohol addiction. In the meantime though, he'll have some serious financial issues to sort out or he risks entering bankruptcy to protect his existing assets. The 29 year old has an estimated $24 million in career earning thanks in large part to a three year, $14.7 million deal that he signed with the Montreal Canadiens back in 2017.
