Nick Griffin and Other Famous Bankrupts
As Nick Griffin, leader of the BNP, announces he is the latest public figure to go bust, we take a look at other famous bankrupts. From MC Hammer to Walt Disney, it seems financial difficulty can hit anyone.
Nick Griffin was declared bankrupt for a period of twelve months on 2nd of Jan 2014 in the Welshpool County Court. The politician applied for an IVA, offering to pay 42p in the pound over 5 years to all his creditors, but this offer was rejected. The funds of the BNP remain unaffected, and Mr Griffin has insisted “This order will not prevent me fighting for the interests of the British people or leading the British National Party”.
The singer turned property investor lost all the money he amassed during his Westlife years when the housing market crashed, leaving him owing £4.45m to Ulster Bank and Bank of Ireland.
At just 21, Walt Disney was declared bankrupt after an early animation studio that he founded, Laugh-O-Gram, was beset with issues as they attempted to make a film version of Lewis Carroll’s Alice In Wonderland.
Twain, author of The Adventures of Huckleberry Finn and Life on the Mississippi was declared bankrupt after investing his money in the Paige Compositor, a typesetting device rendered obsolete before it was even completed. Despite bankruptcy clearing his debts, Twain undertook a 4 year lecture tour of Europe in order to earn back enough money to pay back all his creditors.
The Atomic Kitten singer has become as well known for her financial troubles as her songs, being made officially bankrupt in 2008 after failing to pay all of a £417,000 tax bill.
The former undisputed heavyweight champion of the world, who received almost £300m in ring earnings, was declared bankrupt as a result of his lavish lifestyle, including purchasing cars, jewelry, mansions and a Bengal tiger.
The Eastenders actress filed for bankruptcy in 2013, with debts of £187,000. Her financial difficulties began after she was diagnosed with Chronic Fatigue Syndrome, and her symptoms made it impossible for her to work.
Film actor Burt Reynolds filed for bankruptcy in 1996 with debts of over £5 million, following his divorce from wife Loni Anderson. Reportedly, among his creditors was a wig maker to whom he owed $100,000.
The “U Can’t Touch This” rapper may have sold 50 million records worldwide, but his debts of over $13.7m, including $110,000 to an interior decorator,meant he was forced to file for bankruptcy.
Despite being one of Hollywood’s best paid actors, the Con Air actor filed for bankruptcy after his extravagant spending, including castles, yachts and helicopters, caught up with him, leaving him with an unpaid tax bill of $13m.