Judge drops bankruptcy petition against former footballer

Bankruptcy Blog

A judge had dropped a bankruptcy petition against a former Manchester United and Aston Villa footballer.

Mr Registrar Sebastian Prentis rejected the petition against Dwight Yorke on Monday.

He said the amount owed had fallen below the £5,000 threshold creditors can petition for a debtor to be made bankrupt.

Mr Yorke’s company, Dwight Yorke Promotions, was set up in 1997. Records dating from September 2015 showed that the company held assets of £6,094, down 73 per cent on the previous year.

Records also show that the company owed £6,092 in bank overdraft fees and long-term loans.

What is a bankruptcy petition?

If someone owes you money, you can apply to bankrupt someone using the court. This route is usually taken after all other avenues have been exhausted. A bankruptcy petition is an application to the court for someone’s assets to be taken and sold to pay their debts.

To present a petition, you’ll have to prove that you’re owed at least £5,000. You will also have to pay £280 for court costs and a £990 deposit.

Click here for more information.

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