Borris Becker was declared bankrupt in 2017 in respect of an unpaid debt of £3m due to Arbuthnot Latham & Co, a private bank..
The former tennis ace is legally obliged to disclose all of his assets so that his trustee can take steps to realise them for the benefit of his creditors.
The former tennis player, however, failed to disclose, concealed and removed significant assets from the Official Receiver and his Trustee in Bankruptcy.
Assets concealed included €426,930.90, which was transferred to several third parties, a property in Leiman, Germany, and 75,000 shares in Breaking Data Corp.
Becker’s failure to disclose all his assets led to his discharge from bankruptcy being suspended indefinitely. He is also subject to a 12-year Bankruptcy Restriction Undertaking, effective from 17 October 2019.
He will be sentenced on 29 April 22 and could face fines or prison.
For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or should you or your company be facing financial difficulties and you need to chat, please telephone Jo Brigham on 01377 257788 and she will make you an appointment with one of our insolvency professionals at our Driffield, Hull, Grimsby, Scunthorpe or York offices. Our initial meetings are free and without obligation. Meetings can be held virtually or in any of our offices.