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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

26 JAN 2012

The largest number of bankruptcies by one individual? A new statistic - 12 time bankrupt solicitor!!

We have mentioned record breaking bankrupts on the blog before (see also here). Here is the current league of the United Kingdom and Ireland's biggest bankrupts:

  1. Sean Quinn - £2 billion
  2. Patrick Hegarty - £500 million
  3. Kevin Maxwell - £406 million
  4. Rajendra Sethia - £140 million
  5. Willie Stern - £118 million

We have also mentioned insolvent practitioners. On that occasion we mulled on the size of indebtedness that led to bankruptcy. This post relates to the frequency of use of the procedure. The recent publication by OUP of the 19th century volumes on the history of English law throw up a very interesting bankruptcy statistic. The following is noted:

"In 1861 solicitors were brought within the scope of the bankruptcy jurisdiction and a disquieting number passed through the procedure. It was asserted that between 1861 and 1877 no fewer than 942 went bankrupt, 130 of them more than once, with one brazen individual managing to do so 12 times." (William Cornish, J Stuart Anderson, Ray Cocks, Michael Lobban, Patrick Polden and Keith Smith. The Oxford History of the Laws of England, Volumes XI, XII, and XIII, 1820-1914. Vol XI, Oxford University Press, Oxford, at page 1161).

We have a new statistic! Do any readers know of any record breaking insolvency statistics? Do contact me if you do (j.tribe@kingston.ac.uk). 

 

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