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Secret Millionaire declared bankrupt

Published on 4 Sep 2009 under category: legal

Chek Whyte, a businessman who appeared on the Secret Millionaire programme, has been declared bankrupt, legal representatives have revealed.

The property entrepreneur is thought to have debts of around £30 million.

He had previously put in plans for an individual voluntary agreement (IVA) which would have seen him continue trading while paying creditors, however, this bid failed, bankruptcy solicitors may be interested to hear.

After the bankruptcy declaration, which took place at Leicester Crown Court, a spokesperson for legal firm representing the property developer said that he has plans to submit a new proposal to those owed money.

Mr Whyte appeared on the Channel 4 television series in 2007 when he gave money to causes in the Manchester area.

Last month, HM Revenue and Customs rejected Mr Whyte's bid for an IVA, bankruptcy solicitors may remember.

At the time, he told creditors that bankruptcy would be an "easy way out" and that it would be them rather than him that lost out if this occurred.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.