Stan declares himself bankrupt in UK
Former Republic of Ireland and Liverpool footballer Steve Staunton was declared bankrupt in April of this year it has recently been revealed.
The former defender, who managed the Irish national team in 2006, filed for bankruptcy according to the Sun newspaper after financial problems came when he invested in film companies under Ingenious Media.
He invested in three of the company’s schemes Stuart Films, Zeus Films and Tudor Films. The 66 films financed under the schemes include box-office hits Avatar, Die Hard 4, Life of Pi and Shaun of the Dead. Ingenious Media was the subject of an HMRC investigation, after thousands of high profile individuals, including many Irish footballers, invested in film funds between 2002 and 2010.
The Sun reported that the 47-year-old declared himself bankrupt three months before some of Ingenious Media’s investors received accelerated payment notices earlier this year, demanding that they repay tax.
There is no suggestion of wrongdoing on Staunton’s part and the period of bankruptcy is to last until April 15, 2017. The Dundalk-born footballer, affectionately nicknamed ‘Stan’ by fans, earned more than 100 caps for Ireland and turned out for Liverpool, Aston Villa and Coventry at club level.