Evander Holyfield is on the verge of losing his Father of the Year Award (1998) after allegedly defaulted on a 600,000 dollars loan to CEO of VitaPro Foods Yank Barry.
Back in 2013, Barry had loaned Holyfield 621,133 dollars, which the 52-year-old boxer had promised to pay back by June 1, 2014, TMZ.com reports.
Holyfield used various valuable items as collateral against the loan, including several championship belts, gloves form his 1996 fight with Mike Tyson, the 1984 Golden Gloves ring, various boxing robes and his 1998 Father of the Year Award, claimed Barry.
Barry has said he was never given the full amount back, and that he was entitled to the rest of the debt and other costs, which amounted to 471,000 dollars.
Barry now wants to collect the collateral, which is being held by a third party.
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