Boris Becker officially discharged from bankruptcy after successful insolvency court appeal
German tennis star and coach Boris Becker has been discharged from bankruptcy thanks to a successful appeal to an insolvency court.
The six-time Grand Slam champion was declared bankrupt in 2017 with total debts of around £50 million.
The court would sentence Becker to jail time after he was found to have hidden assets from officials.
On Wednesday, Becker’s bankruptcy was officially dismissed following an agreement with joint trustees of his bankrupt estate or creditors. Although he was unable to pay back his creditors in full, the judge concluded that he had done “all that he reasonably could do” to make up for the millions of pounds owed.
“On the spectrum of bankrupts who range from ‘difficult as possible…’ to cooperative, providing information and delivering up assets, Mr Becker clearly falls on the right side of the line,” Chief Insolvency and Companies Court Judge Briggs stated in a judgement issued on Wednesday morning.
“Mr Becker has signed a statement of truth, engaged solicitors to ensure compliance with his obligations and entered a settlement agreement that benefits the joint trustees. I accept his evidence and find that objectively he has done all that he could reasonably do to fulfil his obligations to the joint trustees.
“If the exercise of discretion is required, I would exercise it in favour of Mr Becker and lift the suspension as it would be perverse to exercise it against Mr Becker given my decision that he has fulfilled his obligations.”
Becker commented on the judgement, saying that his world had been turned upside down.
The former coach to Novak Djokovic says that he put his faith in the wrong people when it came to his finances and he has paid a heavy price.
“The effect of my being made bankrupt was to turn my world upside down,” Becker told reporters.
“I had no idea as to how I was in the position in which I found myself and I had no idea about the bankruptcy process itself. I was completely reliant on those advising me and I followed what I was being told, believing such steps to be in my best interests.
“With hindsight, I can see, and it has now been explained to me, that some of the advice I was receiving was not only wrong, but wildly so, and provided by individuals who clearly did not have my best interests at heart. I am simply incapable of doing more than I have done in terms of accounting for and delivering up assets, in particular the trophies.”
