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Secret Millionaire to avoid bankruptcy?

Published on 8 Oct 2009 under category: legal

A man who appeared in the Secret Millionaire TV series could be set to avoid bankruptcy.

Chek Whyte was declared bankrupt last month after failing in a bid to obtain an individual voluntary agreement.

However, he has now been in talks with creditors and it is thought that an agreement has been reached which could see his bankruptcy annulled.

This comes after a vote came down in favour of allowing the businessman to pay back a portion of his debt over the next two years.

Mr Whyte told thisisnottingham.co.uk: "I'm ecstatic to get the vote. It was quite a complex decision and a traumatic day."

The property developer, who was made bankrupt at Leicester Crown Court last month, appeared on the Secret Millionaire in 2007 when he gave money to several causes in the Manchester area.

In other news, last week Jolt Co, which makes the Jolt Cola energy drinks, filed for Chapter 11 bankruptcy protection.

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