Even by the brutal standards of big business and the political arena, it is a spectacular fall from grace.
Lord Magan of Castletown, a former Tory party treasurer who owned one of Irelands grandest estates, has been declared bankrupt. His debts are estimated at 14 million and his marriage appears to be over. A search for any surviving assets has begun after the financier, once estimated to be worth 200 million, claimed to be penniless.
Castletown Cox, one of Irelands great Palladian mansions and which had a 30 million art collection, has been sold with its 513-acre estate in Co Kilkenny. The peers 6 million home in Kensington, west London, has also been sold and his wife, Lady Magan, 73, has tried to have him
Read the full article at: https://www.thetimes.co.uk/article/lord-magan-of-castletown-declared-bankrupt-with-debts-of-14m-7pg8dq2rb
