20 November 2019: Former world number one tennis star Boris Becker was out-served by the Official Receiver in a recent announcement. A 12 year bankruptcy restriction undertaking was entered into due to suspicious transactions valued at over £4.5m both before and after his bankruptcy proceedings commenced.
Bankruptcy restrictions usually last 1 year and can be extended for between 2 and 15 years where there is reason to believe that the bankrupt has been dishonest. In Boris’ case he will remain bankrupt until 2031 and won’t be able to:-
- act as a director of a limited company
- borrow funds of more than £500 without disclosing that he is subject to the restrictions
- be a member of parliament
- carry on in business under a different name
- be a trustee of a charity
Boris was made bankrupt in June 2017 following a petition filed in court in April of that year by Arbuthnot Latham Bank in connection with a loan debt believed to be in the region of £3m. Earlier this year Becker’s trustee in bankruptcy raised £680,000 from an online auction of his trophies and memorabilia. Becker also claims that he has misplaced five Grand Slam trophies along with an Olympic gold medal won for the doubles in 1992 and has appealed for assistance with regard to their whereabouts.
Anthony Hannon, public interest Official Receiver for the Insolvency Service, said: “Bankrupts have a duty to fully co-operate with their trustee and where this has been frustrated a bankruptcy restriction undertaking of commensurate length must reflect that conduct.”
At BRI Business Recovery and Insolvency we often act for creditors in recovering assets. The same rules apply regardless of the bankrupt’s status and position in the public eye/media.
If you believe you are owed monies by a debtor and would like to speak with someone about your recovery options, please call any one of the management team at BRI Business Recovery and Insolvency.