It's been four weeks since hackers calling themselves Guardians of Peace began their cyberterrorism campaign

Brad Pitt was called to perform his civic duty but was then deemed too distracting to pull through!

Westlife singer declares bankruptcy

2012-06-14 17:32
 
shane filan,westlife
Los Angeles - Shane Filan has been declared bankrupt due to debts of £18m.

The Westlife singer - who has three children, Nicole, six, Patrick, three, and two-year-old Peter with wife Gillian - has "exhausted all other options" in a last ditch attempt to save his failed property empire in Ireland.

Shane spent "months" working with a team of financial experts to help him get out of trouble, but he has now been ruled officially bankrupt at Kingston County Court, Surrey.

'I am devastated'

The 32-year-old star - who had to sell his Aston Martin for £322 000 - said: "Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail.

"I have worked long and hard to try to reduce my debts, and I am devastated that it came to this conclusion."

"I now intend to focus on the remaining dates of the Westlife tour and my commitments to the band before looking to rebuild a future for my wife, my three children and myself."

Shane is dealing with his plight at his and Gillian's home in Surrey, and his bankruptcy will only last for one year in England, provided he complies with the courts, compared to 12 years in Ireland.

Westlife's farewell tour

The singer's financial downfall came after his and his brother Finbarr's company Shafin Developments borrowed millions from Bank of Ireland and Ulster Bank during the economic boom with a view to constructing a 90-home estate in Dromahair, County Leitrim - but only 50 houses had been built when the site was recently inspected.

Other projects including a nursing home and supermarket in Ireland have also been stopped.

Shane is due to continue singing at Westlife's farewell tour - which is expected to net him £4m - with farewell gigs in Dublin, Ireland, next week before he starts a solo career.

His solo career will be managed by X Factor judge Louis Walsh, who believes the Irish star will "make millions" from the project.

He is quoted by the Daily Mirror newspaper saying: "Shane is going to have a massive career after Westlife. He's going to have a great solo career and make millions. He'll start all over again and remake the riches in no time at all."

- BangShowBiz

Read more on:    westlife  |  celebrities
NEXT ON CHANNEL24X

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
 

Recent News

It's Christmas and we got to celebrate it early with The December Streets. Read More »

It’s the Fokofpolisiekar boys. With a cooler box. Filled with their new beer. For us to taste, drink and be merry. Read More »

inside channel 24

There are new stories on the homepage. Click here to see them.