"A former England international winger has been declared bankrupt after amassing more than 1.5 million in debt through his now-liquidated media company. Liverpool legend John Barnes has fought off four bankruptcy petitions in the last 15 years but was hit with a bankruptcy order in the High Court of Justice last week. Liquidators' reports show he owed HMRC 776,878 in unpaid VAT, National Insurance, and PAYE, alongside 461,849 to unsecured creditors and a 226,000 directors loan, reports The Independent."
"Barnes reportedly paid a personal tax bill of 238,000 to see off a bankruptcy petition in 2023 but the debts owed by his business have caused a series of problems, culminating in the finalised bankruptcy order. According to an insolvency specialist and partner at law firm DMH Stallard, Barnes has been involved in legal proceedings for some time. Barnes has been involved in media work since retiring from football (Image credit: Getty Images)"
John Barnes has been declared bankrupt following the liquidation of John Barnes Media Limited, which owed over £1.5 million. Liquidators' reports record unpaid liabilities including £776,878 to HMRC for VAT, National Insurance and PAYE, £461,849 to unsecured creditors and a £226,000 directors' loan. Barnes paid a personal tax bill of £238,000 in 2023 to defeat a previous petition, but company debts persisted after HMRC rejected a 'time to pay' proposal. Barnes signed a disqualification undertaking barring him from acting as a director for three and a half years and has faced ongoing legal proceedings while working in media since retirement.
Read at www.fourfourtwo.com
Unable to calculate read time
Collection
[
|
...
]