8 Nov 2019 01:22pm

Becker to remain in bankruptcy for 12 more years

Boris Becker, one of tennis’s all-time greats, has had his bankruptcy order extended to 2031 after failing to disclose transactions of £4.5m

He was originally made bankrupt in June 2017, an order that should have lasted just one year.

During the length of the order, bankrupts are under a statutory duty to provide full disclosure of assets to the trustee (in his case, Smith & Williamson) and to tell lenders about their bankruptcy order when seeking to borrow more than £500.

Becker, however, did not comply either before or after the bankruptcy proceedings – an investigation by the official receiver uncovered undisclosed transactions he was involved in totalling £4.5m.

The official receiver decided to apply to extend Becker’s bankruptcy restrictions and Becker offered a 12-year undertaking which was accepted on 17 October.

Commenting on the extension, Anthony Hannon, public interest official receiver for the Insolvency Service, said, “Bankrupts have a duty to fully cooperate with their trustee and where this has been frustrated, a bankruptcy restriction undertaking of commensurate length must reflect that conduct.”

The three-time Wimbledon champion’s financial woes came to prominence when he was first made bankrupt over money he had owed London-based private bankers Arbuthnot Latham & Co since October 2015.

His fortune was once valued at over £100m, but a series of very expensive divorce and paternity pay outs, tax evasion settlements and bad property investments led him to the bankruptcy courts.

There the judge, Ms Registrar Derrett, said of him, “One has the impression of a man with his head in the sand”.

In July this year, an online auction of Becker’s trophies – including a full-size copy of the cup he won at the US Open in 1969 – and other memorabilia raised £687,000 for his creditors.