It does look like it is his personal bankruptcy:
Loan Guarantees Led To Brunell’s Bankruptcy - Bankruptcy Beat - WSJ
"Brunell filed for Chapter 11 protection, meaning he intends to craft a plan to repay his creditors. It’s not clear if he intends to sell off any of his assets as part of that plan, but he did list some of his most valuable possessions in court papers.
Among those were his Super Bowl ring won in February, rings from his three appearances in the Rose Bowl as a member of the Washington Huskies and his National Championship ring."
He personally gauranteed the loans, which the big-pockets person in a deal is often asked to do. Many don't hesitate because 'What could go wrong?"