FORMER Blackburn Rovers captain Barry Ferguson has been made bankrupt with debts of more than £1.4 million.
The ex-Scotland captain, who made 36 appearances for Rovers between 2003-2005, was declared insolvent after failing to settle large bills thought to be owed to the taxman.
He is one of a number of former Ibrox stars who faced paying back money they had received in Employee Benefit Trusts (EBTs) after Rangers lost a battle with HMRC.
Ferguson, 39, who recently stepped down as manager of Clyde, received £2.5 million in EBT payments.
He also invested in a film production partnership called Eclipse which has targeted by HMRC after being ruled to be a tax avoidance scheme.
Ferguson applied for his own bankruptcy after running up debts of £1,425,633 and it was approved by the Accountant In Bankruptcy, Scotland's insolvency service, earlier this month.
A bankruptcy trustee, Maureen Leslie of insolvency specialists MLM Solutions, has been appointed to take control of his assets and try to recover money owed to creditors.
Ferguson, who lives in a gated mansion near Larkhall, Lanarkshire, has declared that he has only £3,000 worth of assets available.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel