England and Liverpool legend John Barnes has been declared bankrupt after posing debts of £1.5m through his media firm. The 61-year-old, once the darling of the Kop and a key figure in Bobby Robson’s England side, was handed the crushing order by the High Court last week. The declaration was later published in the London Gazette.

England and Liverpool legend John Barnes has been declared bankrupt after posing debts of £1.5m through his media firm. The 61-year-old, once the darling of the Kop and a key figure in Bobby Robson’s England side, was handed the crushing order by the High Court last week. The declaration was later published in the London Gazette.

New Delhi, Oct 1 (PTI) Insolvency professionals and valuers should look at having a very effective self-regulating mechanism, Corporate Affairs Secretary Deepti Gaur Mukerjee said on Wednesday as she highlighted the importance of the insolvency law.

Speaking at the ninth annual day of the Insolvency and Bankruptcy Board of India (IBBI) in the national capital, Mukerjee also said there is a long way to go on the Insolvency and Bankruptcy Code (IBC) as the expectations are high.

The Code, introduced in 2016, provides for a market-linked and time-bound resolution of stressed assets.

There are more than 4,500…

The Swedish government has published the full text of legislation that imposes a blanket ban on using credit for gambling. It has confirmed the new rules will come into effect from 1 April 2026.

In the bill, the government set out its proposal for a total ban on gambling with credit cards. The Swedish Gambling Act already prevents players from using credit to gamble with licensed operators.

However, the incoming bill takes this a step further, with the government having previously said that current regulations had “limited scope”. An extension of the ban would effectively close a loophole that currently…

Liverpool FC legend John Barnes has been declared bankrupt.

A bankruptcy notice published in the London Gazette on Tuesday confirmed a HM Revenue and Customs petition against the former footballer has been granted.

The former footballer’s company John Barnes Media Limited racked up debts of over £1.5 million in combined unpaid VAT, National Insurance and PAYE.

A director’s loan of £226,000 and £461,849 owed to unsecured creditors were also included in the figure of the since liquidated business by HMRC’s auditor report.

Barnes, who still lives on Merseyside, was hit with a three-and-a-half year ban from being a company director in 2023 after failing to pay corporation tax and VAT.

The charge related to more than £190,000…

The unfortunate saga of Overum, the Swedish plough manufacturer, has taken a new twist with it being declared bankrupt by its latest owners, FairCap, the German investment company based in Munich.

Faircap purchased the company from New Holland in April of last year, as the tractor manufacturer appeared to back away from its ambition of going full line and filling its dealers yards with blue implements as well as tractors.

The latest development centres around the sudden closure of the factory by trade unions after the company management resigned en bloc at the beginning of September.

This left the company rudderless and the factory unmanaged, and so the local trade union felt it necessary to step in and close the factory…

The unfortunate saga of Overum, the Swedish plough manufacturer, has taken a new twist with it being declared bankrupt by its latest owners, FairCap, the German investment company based in Munich.

Faircap purchased the company from New Holland in April of last year, as the tractor manufacturer appeared to back away from its ambition of going full line and filling its dealers yards with blue implements as well as tractors.

The latest development centres around the sudden closure of the factory by trade unions after the company management resigned en bloc at the beginning of September.

This left the company rudderless and the factory unmanaged, and so the local trade union felt it necessary to step in and close the factory itself, declaring…

Company collapse and tax nightmare

The bankruptcy is rooted in the collapse of Barnes’ now-defunct business, John Barnes Media Limited. Liquidators revealed staggering debts, including nearly £777,000 owed to HMRC in unpaid VAT, National Insurance and PAYE. On top of that, Barnes’ company still had £461,849 in unsecured debts and a £226,000 director’s loan hanging over it. Barnes had already been barred from serving as a company director for three and a half years due to these financial issues, and despite chipping away at the mess with instalment payments, the hole was simply too deep, as reported by The Independent. 

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The first £10k-a-week star now broke

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Company collapse and tax nightmare

The bankruptcy is rooted in the collapse of Barnes’ now-defunct business, John Barnes Media Limited. Liquidators revealed staggering debts, including nearly £777,000 owed to HMRC in unpaid VAT, National Insurance and PAYE. On top of that, Barnes’ company still had £461,849 in unsecured debts and a £226,000 director’s loan hanging over it. Barnes had already been barred from serving as a company director for three and a half years due to these financial issues, and despite chipping away at the mess with instalment payments, the hole was simply too deep, as reported by The Independent. 

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The first £10k-a-week star now broke

It’s a bitter fall…