BREAKING - Alex Galchenyuk Being Sued For $400,000 by Canadian Bank

This comes just days after the former Coyotes player was released from his contract following an arrest for a hit and run incident. The 29-year-old forward has entered the NHL and NHLPA's player assistance program, but legal issues persist.

The Journal de Montreal reports that back in June 2014, during his time with the Montreal Canadiens, Galchenyuk allegedly obtained a loan worth $299,466.88 in US dollars. Court documents reveal that the Bank claims he defaulted on the loan, but Galchenyuk has reportedly refused to pay the owed amount.

Now, the Bank is seeking repayment of the entire loan, plus interest at an annual rate of 9.2%. With legal proceedings likely, Galchenyuk faces a challenging situation, adding to the difficulties he's already dealing with this month.