Westlife’s Shane Filan’s wife Gillian ‘declared bankrupt… six years after singer’s own financial collapse left him £20m in debt’
Westlife’s Shane Filan’s wife has reportedly been declared bankrupt, six years after the singer’s own money troubles left him the equivalent of £20 million in debt.
Court documents obtained by The Mirror show Gillian, 39, was ruled to be bankrupt by The High Court on 23 July, in relation to joint loans she shared with her husband of 15 years.
Shane, 39, found himself in similar financial troubles in 2012 after his company with brother Finbarr, Shafin Developments, went bust after borrowing millions from Bank of Ireland and Ulster Bank.
Money woes: Westlife’s Shane Filan’s wife has been declared bankrupt, six years after the singer’s own money troubles left him the equivalent of £20 million in debt
According to The Irish Independant, the bankruptcy is believed to have stemmed from mortgage debts Gillian and Shane had with Ulster Bank believed to be worth over €4m, or approximately £3.5m.
-
Katie Price, 40, puts on ANOTHER steamy display with toyboy…
Love Island’s Laura Anderson enjoys a cigarette as she…
Coronation Steet’s Lucy Fallon stuns in a strapless polka…
Love Island’s Dr Alex George gets close to mystery…
Share this article
The debts are also reported to have come from three properties the couple co-own in Sligo, Northern Ireland.
MailOnline has contacted representatives for Shane and Gillian Filan for further comment.
Tough time: Legal documents confirmed Gillian was ruled bankrupt by the High Court on July 23, after mortgage debts with husband Shane left the equivalent of £3.5m in debt
Shane himself was declared bankrupt in 2012 after his company with Finbarr, Shafin Developments, went bust.
During the economic boom the siblings borrowed millions from the Irish banks to build a 90-strong housing development along with a nursing home and supermarket in Dromahair, Co Leitrim – close to Shane’s home in Sligo.
These plans were scrapped when the company went bust and Shane filed for bankruptcy in Kingston County Court.
Relocating to Surrey, Shane and wife Gillian were forced to sell their home in Sligo – valued at €10 million during the financial boom – for €800,000 in 2014.
Cash worries: Shane himself was declared bankrupt in 2012 after his property business with brother Finbarr – Shafin Developments – went bust leaving him approximately £20m in debt
Shane – who sold more than 10 million records as part of the Irish boyband Westlife – has since spoke openly about his financial troubles.
Writing in his 2014 biography My Side Of Life, he said: ‘My whole life flashed before my eyes. It felt as if somebody had died. Everything was gone – my home, the cars, all our money. I sobbed inconsolably. This was the bottom of the barrel.’
Shane and his childhood sweetheart Gillian tied the knot in 2003 and have three children together – 13-year-old daughter Nicole and sons Patrick, nine, and Shane, eight.
Family: Shane and childhood sweetheart Gillian married in 2003. The couple have three children – 13-year-old daughter Nicole and sons Patrick, nine, and Shane, eight (above in 2014)
Source: Read Full Article