From millionaire to broke - Newspaper article

[PSK]

Had an interesting read in my 'daily fix' of the Daily Mail.

http://www.dailymail.co.uk/femail/a...ruck-What-followed-tested-marriage-limit.html

 

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[tafy]

'With hindsight, perhaps it was naive to put all our eggs in one basket.'

Well this guy was way over extended on the bank loans, property was valued at 30m and he owed the bank 17m

13m in equity if the property was really valued at 30m which I think was generous.

Commercial property suffered massive crash in value so im guessing he was deep into commercial, and they just called in the loans and bankrupted him. Tough game.