Famous bankrupts, past & present

valuemaster

Westlife reunion tour maybe on the cards now to earn some more dollar, maybe a silver lining to this.

JustinCredibleGillespie

He will have a HUGE IPA I would imagine!!

JCG

xx

mildred1978

anguk wrote: »

It always amazes me though when celebs go bankrupt they seem to continue to live in the same house, have the same lifestyle etc yet when ordinary people go bankrupt it has a devastating effect on their lives.

Really? Haven't seen a devastated bankrupt for several years.

property.advert

vax2002 wrote: »

It is quite the norm for working class people who come in to money to be tricked out of it by commission based financial experts selling mates products.
If only he had realised that if he were a financial genius he would not have had to sing in a band for his supper in the first place.
Should have left it in the bank old lad.

Some years ago a farmer who won around £4.5m on the lottery lifted the lid on the grubby world of post jackpot winner financial "advisors" and the £450,000 they wanted in commissions or around 10%.

Now look at those Scottish simpletons who won £160m and think what a feast of commissions would be generated from those people and the backhanders no doubt going into Camelot's coffers.

ami66

ILW wrote: »

Does that mean that any earnings he makes from record sales or touring, goes straight to the OR for distribution to creditors?

Doubtful.

Westlife are limited companies called Blacknight Ltd and also Blue Net Ltd. The four members of the group are or were directors, but there was a change of directors in Oct 2010 for at least Blacknight Ltd.

Fancy betting Shane was removed from the company?

Putting his income safe for his family and protecting his band mates at the same time I expect.

mildred1978

ami66 wrote: »

Doubtful.

Westlife are limited companies called Blacknight Ltd and also Blue Net Ltd. The four members of the group are or were directors, but there was a change of directors in Oct 2010 for at least Blacknight Ltd.

Fancy betting Shane was removed from the company?

Putting his income safe for his family and protecting his band mates at the same time I expect.

The law is (truely) an ass.

ami66

mildred1978 wrote: »

The law is (truely) an ass.

Possibly but the banks did lend to Shane and his brothers building company not to the other members of Westlife so shouldn't they be able to protect their income?

As I understand it from the reports I've read the banks have gone after Shane as the brothers have no money, he tried to arrange an IVA but the banks said no.

Might be bigger amounts than average Joe public but can you blame him if the banks wouldn't accept his offers?

So for the next 12 months he will pay some sort of IPA but he's technically going to be unemployed when Westlife split!

Would love to be the OR sorting out his SOA :rotfl:Do you think they'll allow the fees for 'Louis Walsh's professional employment fees?'

He resigned as directors from the companies back in October when he moved to the UK, he's clearly being given some advice about this and been planning things out over time.

tigerfeet2006

OK not well known to most of you but this has really rocked the circles I travel in. If you watched the Olympic's you would probably have seen the horse and rider.

http://www.horseandhound.co.uk/olympics2012/7634/313728.html

PippaGirl_2

Gosh yes, I was rivetted to the dressage. Stupid really, but I'm hoping the horse will be well cared for and whever he goes the same.

tigerfeet2006

Well the stables he has gone to are well renowned so hopefully he will be fine.