TENNIS ace Boris Becker is battling bankruptcy by claiming diplomatic immunity as an ambassador to the Central African Republic. The German, once reputedly worth £160m, stunned the world in 1985 when he became the youngest player to win Wimbledon at 17. How much does former tennis ace Boris Becker owe? Becker was ruled unable to pay a debt to bankers Arbuthnot Latham & Co during a High Court hearing in London in June 2017. Lawyers for the Wimbledon winner pleaded with a Bankruptcy Court registrar for "a last chance" to pay back the long-standing debt. They argued Becker would be able to pay off the debt by remortgaging his holiday home in Mallorca to raise £5.26million. But registrar Christine Derrett claimed there was a lack of credible evidence that the debt would be paid off in the near future. She said: "One has the impression of a man with his head in the sand." Later reports claimed the tennis star could owe as much as £54m despite his … [Read more...] about Boris Becker bankruptcy – how much does he owe, why has he been declared bankrupt and what’s his net worth?
Bankruptcy court order
Tennis legend Boris Becker is claiming diplomatic immunity from bankruptcy proceedings in the UK. Mr Becker has been appointed as sports attache to the Central African Republic.Last year bankruptcy proceedings were brought against the former tennis ace over money he allegedly owes to a London-based private bank, Arbuthnot, Latham and Co.An application to the High Court had been made to prolong Mr Becker's period of bankruptcy in order to release more assets.But Mr Becker's lawyers have told the court that their client has been appointed as ambassador to the Central African Republic.This role gives the individual diplomatic immunity and so, his lawyers say, Mr Becker cannot be subject to legal process in any court in the world while he holds this status.If a legal claim were to be made through diplomatic channels, this would require the UK Foreign Secretary Boris Johnson and his Central African Republic counterpart to give their consent to the action.Mr Becker has hired a former United … [Read more...] about Boris Becker claims diplomatic immunity from bankruptcy claims
Remington, the US gun maker that began turning out flintlock rifles when there were only 19 states in the Union, has filed for bankruptcy reorganisation amid years of slumping sales and legal and financial pressure over the Sandy Hook school massacre.In papers filed Sunday in federal bankruptcy court in Delaware, Remington outlined a plan to turn over control to its creditors and continue operating with money from lenders. It remains unclear what will happen to its 3500 or so employees as it tries to put its finances in order.Remington, whose roots go back to 1816, when the Western frontier beckoned, saw its debts mount with the election of President Donald Trump, who has called himself a "true friend" of the National Rifle Association but whose victory ended years of panic-buying by people afraid a Democrat in the White House would crack down on guns.In 2017, firearm background checks, a good barometer of sales, declined faster than in any year since 1998, when the FBI first began … [Read more...] about Bankruptcy protection for US gun maker
The Weinstein Company's board of directors are to file for bankruptcy protection after last-ditch talks to sell its assets collapsed. They have been searching for a financial saviour since Harvey Weinstein, who co-founded the film studio 13 years ago, became the subject of sexual assault and harassment allegations by dozens of women last autumn.The claims prompted business to drop away from the movie mogul - later fired by the board in October. Weinstein has denied all allegations of non-consensual sex.The directors last night abandoned hopes of finding a buyer for Weinstein Co's assets.They said: "While we recognise that this is an extremely unfortunate outcome for our employees, our creditors and any victims, the board has no choice."Over the coming days, the company will prepare its bankruptcy filing with the goal of achieving maximum value in court."At one stage they were in talks with an investor group over a $500m (£358m) sale.It was reported that, as part of that deal, the … [Read more...] about Weinstein Co to file for bankruptcy protection
GLASGOW fraudster Barry Hughes has handed over £53,000 in assets after he was served with a 'dirty money' confiscation order. The former boxing promoter had a legal hold over him recalled at the Court of Session in Edinburgh yesterday after he handed over assets or an equivalent cash sum. READ MORE: Barry Hughes moans in court as he is told to sell off four designer watches and a £5K mobile phone However, prosecutors say he isn't off the hook just yet as they can still pursue the rest of the £2.9million that was agreed to be his "benefit figure" from crime. Hughes' seized assests included a £5600 Vertu Constellation mobile phone as well as numerous Rolex and Cartier watches. The Crownn Office told the Daily Record: "The order for the full value of the frauds will remain active against Hughes until every penny is paid back, however long that takes." READ MORE: Barry Hughes moans in court as he is told to sell off four … [Read more...] about Glasgow fraudster Barry Hughes hands over £53,000 in assets after ‘dirty money’ confiscation order