5 year BRO

maxmycardagain

Unfit Conduct

In the period 28 February 2007 and December 2007, from the net proceeds of sale of a property totalling £91,617, he dissipated the sum of £66,042 to the detriment of his creditors. In particular:- As at 28 February 2007 he owed his creditors, being financial institutions, £48,905 and had cash at bank totalling £92,844. - During the period February 2007 to December 2007 he had a monthly shortfall of income over household expenses and minimum creditor repayments of between £1,389 and £2,586 (see annexe A), at the date of the bankruptcy order the sum of £39,650 was owed to creditors. - As at 17 March he had liabilities, all to financial institutions, totalling £39,650 and no assets. - Between 28 February 2007 and December 2007 he asserted he expended £45,706 upon gambling activities, of which £38,016 are documented net losses from on-line betting and at least £7,690 he attributes to cash gambling upon horse races. - Between 28 February 2007 and December 2007, £20,336 was expended by way of cash withdrawals in Thailand, of which he attributes £3,555 to having been spent on home improvements to a property owned by a connected third party in Thailand. In applying his assets as he did he chose to expend his windfall disproportionately to the benefit of himself and connected parties, and the detriment of his existing creditors, who received a £9,255 net reduction in liabilities from the £92,844 available.

busy guy, gambling, house improvements and time in thailand

norby789

Bloody hell 5 years!!! What do you have to do to get a 15 yr BRO....Roger the OR's wife!!!!!!

skylight

Didn't know you had a place in Thailand, Max????

What will you do with your BRO then?







:rotfl:

LilyBart

"Dissipated". Love it. Should be used much more often. I dissipated a whole bag of bombay mix. She dissipated her pocket money on go go crazy bones. They dissipated their time watching the Jeremy Kyle show.