Ex Liverpool star hit with High Court order as tax troubles resurface despite years of repayments

From £10k a Week Star to Bankruptcy: Liverpool Legend Owes £1.5 Million in Unpaid Taxes and Debts

England & Liverpool great John Barnes’s officially been declared bankrupt after his now liquidated company, John Barnes Media Limited, ran up debts of more than 1.5 million sterling pound.

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High Court order confirmed

The 61 year old’s bankruptcy was issued by the High Court of Justice on 23 Sep with the notice published in the London Gazette.

HM Revenue & Customs HMRC filed the petition in early August revealing unpaid liabilities to the tax authority and multiple creditors.

Breakdown of Barnes’ debts

According to liquidators’…

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Prosperity Investment Holdings Limited ( (HK:0310) ) just unveiled an update.

Prosperity Investment Holdings Limited has announced the commencement of a very substantial disposal through the voluntary liquidation of its subsidiary, Easy Ace. Deloitte Ltd. has been appointed as the liquidators, and Easy Ace will be de-consolidated from the company’s financial statements. Additionally, the company provided updates on the placing of new shares, which is contingent upon the liquidation process and shareholder approval, among other…

“Notably, 90+ day delinquencies have now fallen for the fourth consecutive month, and mortgage inquiries rose 10.6%, largely driven by increased refinancing activity,” she said.

However, company insolvencies remained high and accounted for nearly 70% of all liquidation applications, compared with between 30% and 40% during the Covid years.

She said the increase reflected the low level of arrears recorded during the Covid era, as the credit sector softened its approach to chasing bad debts.

“So the liquidation activity that we’re seeing, whether it’s related to IRD or not, is what we would call a lag indicator.”

She said the lag had a long tail and expected it would take time for the current level of arrears to wind its way…

Star Entertainment Gains Significant Debt Waiver

Australia’s Star Entertainment Group has successfully obtained a crucial debt waiver amounting to AUD 430 million, which is approximately $285 million. This development gives the casino operator some financial relief and the ability to seek additional funding as it faces ongoing monetary challenges.

Details of the Debt Waiver Agreement

Earlier this week, the company informed its investors that it reached an agreement with its lenders, securing a covenant waiver valid until September 30, 2025. This follows prior negotiations concerning urgent loan issues, culminating in finalized discussions pending signed documentation. These agreements will be reviewed as part of the company’s…

Debt can sneak up on borrowers much faster than they may expect. What starts as a manageable balance can quickly grow when life throws curveballs. All it takes is an unexpected expense, a job change or even just relying on credit cards to cover day-to-day costs for your debt burden to grow rapidly. And, if you’re facing debt that comes with compound interest, like credit card debt,…