Tuesday September 29, 2020

Making me bankrupt would be bad for the state, says Marley

Businessman Philip Marley argued that his potential ‘economic benefit to the state’ would be hindered should he be made bankrupt, court papers reveal

2nd February, 2020
Philip Marley: his statement of affairs showed a deficit of €1.54 million. Picture: Collins

Businessman Philip Marley argued that his benefit to the state would be hindered if he was made bankrupt, court papers reveal.

British firm Maven Capital’s petition to bankrupt Marley succeeded last week after several years of wrangling. His statement of affairs showed total assets worth €8.12 million and liabilities of €9.67 million, a deficit of €1.54 million.

There is £12 million owed to IBRC from a British judgment against him, but he estimates...

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