Wednesday, Sep 02, 2009
And another one down and another one down ... another one bites the dust!
Independent: 'Secret millionaire' property develop declared bankrupt
'The Ballad of The Failed Property Developer' proved a recurring and popular chart topper throughout 2009 and 2010.
Posted by paul @ 10:28 PM (1103 views) Add Comment
7 Comments
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1. paul said...
If only they'd all held out for a bit longer for the crash to end eh?
2. dgj said...
Too much exposure in a booming area always will leave room for potential disaster!
3. little professor said...
Yet more public money down the drain. Chek Whyte was given £1.55m of public funds to build 'affordable flats' in Salford. Now he has declared bankruptcy, suppliers and small contractors are all left unpaid and could themselves go bust as a result. He also recieved money from the Church which owned part of the land which was being developed. All in all he has £30million of debt, which will now by wiped out as he is given a clean slate. A true scumbag.
4. inbreda said...
"self made millionaire"
WTF? They make it sound like he worked his way to the top! He had a fleeting moment of being a paper millionaire in an asset boom before blowing the lot through being a numpty. Why can't they refer to these people for what they are?
Oh - what's that you say? The newspapers aren't allowed to print the word a**ehole?
5. inflation is eating my savings said...
I think Derek and Clive had a better word that might describe this chap. It escapes me. Don't use it myself, of course.
6. little professor said...
"I'm really known now for buying companies in receivership. I went bankrupt years ago. I've gone through the treadmill. I know what happened there. As long as you learn from your mistakes you move forward." - Chek Whyte, May 2008
http://www.bbc.co.uk/nottingham/content/articles/2008/05/22/chek_whyte_interview_feature.shtml
7. techieman said...
more fool the banks.... by lending him. I would be interested in the details of his IVA.
"Chek Whyte was last month reported to be in £30m of debt ....But the self-made millionaire" erm can someone explain that nugget of information to me?