Wednesday, September 2, 2009

And another one down and another one down … another one bites the dust!

'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 (1425 views)
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7 thoughts on “And another one down and another one down … another one bites the dust!

  • If only they’d all held out for a bit longer for the crash to end eh?

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  • Too much exposure in a booming area always will leave room for potential disaster!

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  • little professor says:

    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.

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  • “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?

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  • inflation is eating my savings says:

    I think Derek and Clive had a better word that might describe this chap. It escapes me. Don’t use it myself, of course.

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  • little professor says:

    “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

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  • 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?

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