Famous bankrupts, past & present

dojoman

Bump.............................................................

luvchocolate

A bit harsh that!!!
Well done for being able to pay your debts back all credit to you, but please remember a lot of people on this board have been put in this position through other people and circumstances beyond their control, and need all the help and support that is provided on here.

JCS1

And Dionne Warwick.

http://www.bbc.co.uk/news/entertainment-arts-21951752

adpod

Not sure if anyone has already said this one but Peter Jones from Dragons Den went BR in his late 20's

Mouse1812

Shock :eek:

not quite a bankruptcy, but worth adding to the list

The Insolvency Service - Yup the OR is bust, only a legal technicality (and government funding) will prevent him from being declared bankrupt.

The UK government’s Insolvency Service is almost insolvent, the Financial Times reported.
Experts suggest the group, which polices bankrupt companies, liquidates failed businesses and disqualifies unfit directors, would be broke had it not received an emergency injection of cash from the government.
After reporting an underlying deficit of £12m last year, the agency is heading for a deficit of £5m to £7m for 2012-13, according to Whitehall officials.
“It is fair to say that if this was a company it would be in deep trouble,” said Adrian Bailey, chair of the parliamentary business committee.
The Insolvency Service is dependent on fees and asset recoveries from bankrupt companies and the annual number of bankruptcies has fallen sharply over recent years. Official receivers dealt with 43,594 new cases in the 2011-12 fiscal year compared with 77,898 received in 2009-10.
The agency overestimated its ability to recover assets from collapsed businesses through its receivers, known as the Official Receivers.
“The funding model creates a notional loss,” Tony Butcher, president of the Prospect trade union’s insolvency branch said at a recent committee hearing. “You are basically creating a balance sheet on which the Insolvency Service looks insolvent.”
In a statement to AccountingWEB, a spokesperson for the Department for Business, Innovation and Skills said that the Insolvency Service was having to live within its means because of a faster than expected drop in cases.
It has also cut jobs and merged local offices.
"It is incorrect to say the service is 'insolvent' as it currently holds about £14m in taxpayers' equity as shown in the latest figures,” they said.
“It is impossible to compare The Service with a private sector company account in this light. The Service acts as a safety net to the industry, picking up cases under law that private sector insolvency practitioners would not do as they would not be profitable to them."

IF

Kerry Katona has been declared bankrupt for the second time in five years.

Former pop star Kerry Katona has been declared bankrupt for the second time in five years due to unpaid debts, leading to her being dropped as the face of payday lender Cash Lady.
The firm said that it 'with sadness' that it was dropping Kerry because of her 'current financial situation.'

She made a petition under the name Kerry Jane Elizabeth Katona at Wigan County Court today, the Insolvency Service confirmed to This is Money. Former Atomic Kitten Kerry was first declared bankrupt in 2008.

PippaGirl_2

I didn't realise she had been discharge, I thought her previous BR was suspended indefinitely? Can you go BR when you are still BR from before? I guess you can as it would then include all new debts up to the new BR date too?
She's still living in her mansion though, which is owned by her managing agency?

d123

PippaGirl wrote: »

I didn't realise she had been discharge, I thought her previous BR was suspended indefinitely? Can you go BR when you are still BR from before? I guess you can as it would then include all new debts up to the new BR date too?
She's still living in her mansion though, which is owned by her managing agency?

According to the Telegraph she had a 3 year order on the first one.

In 2008, she filed for bankruptcy due to an £86,000 unpaid tax bill.
Bankruptcy status usually lasts for a year, but Ms Katona's status was extended eventually lasting nearly three years. It was suggested that Ms Katona failed to meet requirements set by the court.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/10155766/Kerry-Katona-declared-bankrupt-for-second-time-in-five-years.html

JCS1

PippaGirl wrote: »

I didn't realise she had been discharge, I thought her previous BR was suspended indefinitely? Can you go BR when you are still BR from before? I guess you can as it would then include all new debts up to the new BR date too?
She's still living in her mansion though, which is owned by her managing agency?

Technically, you can be made BR whilst you already are! Say you petition for your own BR, a creditor then petitions you a few months later and if don't say you already are (for example moved address and you've not had the papers) you can be made BR again.

fermi

http://www.thisismoney.co.uk/money/cardsloans/article-2353637/Kerry-Katona-declared-bankrupt-SECOND-time-years-dropped-face-payday-lender.html

In 2011 she used her £350,000 fee for appearing on Celebrity Big Brother to free herself from a previous three-year-order.