Evening Standard: Not-so-hard times for the celebrity bankrupts
Neil Hamilton stood outside his £1.25 million home this week and told how he likes to drink champagne at Claridge's. Yet, in May, he was declared bankrupt. He is not the only one to have thrived after going bust, discovers David Rowan
IT'S the hottest celebrity accessory of the summer - and for those lucky enough to have one it brings champagne soirees at Claridge's, shopping binges on the King's Road and new careers in music, film or books. Neil Hamilton's got one, Greg Martin was given one, and others who have had one include Michael Barrymore and Kim Basinger. It's called a bankruptcy order - and if you're well-enough connected, it can be your entree to the high life.
Just look at Neil Hamilton - once merely a government minister, but today glorifying in the splendid lifestyle of an undischarged bankrupt. Let's follow Neil's diary for 5 May, which he kindly provided this week. A pleasant day's shopping in Chelsea, stocking up on food, fine wines and camera film in advance of a summer holiday; a relaxed afternoon with Christine, preparing 'jellied bloody mary and baked fish' - mmm - and chilled champagne for a cosy dinner party; followed by some gorgeous drinks among friends in Claridge's, where a glass of bubbly costs from £8. Let that be a warning to all those considering defaulting on their debts.
It helps if you're well connected, of course. When Darius Guppy emerged from Ford open prison, having served time and gone bankrupt over £1.8 million owed after a jewel swindle, his pal Charlie Spencer lent him a five-bedroom house on the Althorp estate, and family friend Michael Alexander offered him a room in his Eaton Place house to help his writing career. Bless them all, we say. As the Government attempts to reduce the stigma of bankruptcy, we look at the public-spirited celebrities who have long been doing their bit.
Jonathan Aitken: BANKRUPT, May 1999
AITKEN declared himself bankrupt with assets of £40,000 and debts of £2.6 million to the Inland Revenue, Coutts, Granada Television and The Guardian. He tried to wiggle out of giving them 8 Lord North Street, what with Lolicia and the kids to support, but that's now been sold, as have his antiques. His books fetched nearly £8,000 at auction, though were mostly bought back for him by friends, so maybe they'll have a whip-round for the old house.
Aitken famously began the trend among senior Tories for being jailed over perjury. A new career looms as an adviser on prisoner rehabilitation, primarily in the form of newspaper articles addressed to Jeffrey Archer.
Greg Martin: BANKRUPT, March 2001
THE lothario and film producer (go on, bet you can't name one) was made bankrupt over a £1,861 bill owed to tax consultancy Chiltern International Services - hardly worth the court sitting. Presumably he was too busy proposing marriage to eligible young women to notice the bill: at the time, a former flatmate badmouthed him as 'a sexual predator' who had made a living from 'preying on vulnerable women'.
Martin hasn't had much help from his dad Sir George, with whom he's not on the best of terms, but has continued to use his connections and his charm to get by. No matter that Tara Palmer-Tomkinson called off their engagement after just 25 days (they met at Mick Jagger's birthday party), or that another potential bride denounced him as a man 'not to be trusted with women' - he's since proposed to a Sardinian-born waitress on a Eurostar train.
Kevin Maxwell: BANKRUPT, 1992 since DISCHARGED
THE big one: now discharged, he was at the time Britain's biggest bankrupt, with debts of £406 million, something to do with his dad's business.
The debts would have given him something to think about during his 121 days in the witness box over fraud charges (he was acquitted). After the papers photographed him signing on at a Didcot dole office in 1993 (wonder who tipped them off?), the ensuing publicity brought him 300 job offers, including consultancy work for a head hunter that paid £1,200 per introduction. He has since become a director of at least 24 British companies, eight of them facing insolvency, and well-paid chairman of troubled telecoms company Telemonde, which describes him as having 'an extensive senior management background in communications and media'. Just don't ask him for advice on your pension.
Count Tolstoy: BANKRUPT, 1990 since DISCHARGED
THE Count declared himself bankrupt, owing £1.5 million to Lord Aldington after writing a libellous pamphlet accusing him of war crimes. He said his assets were £20,000, though he remained in his substantial Oxford-shire house. Then last year, irony of ironies, the Count inherited a reported £1.5 million from his stepfather, the author Patrick O'Brian. But he didn't feel like paying Lord Aldington any of it. Unfortunately, Lord Aldington faced a further problem: he died soon after, something Count Tolstoy was quoted as being less than sad about.
Meanwhile, the Count, now discharged, spends much of his time issuing legal warnings to newspapers that publish articles with headlines such as 'The bankrupts who live like millionaires'.
Neil Hamilton: BANKRUPT, May 2001
FOUND himself owing Mohamed Fayed around £1.2 million after a little legal dispute over brown envelopes. He now lives a quiet, reclusive life in rural Cheshire, with wife Christine, shunning the media spotlight. As if.
In between breaching his own privacy with evermore press conferences,H amilton claims to drink champagne and go shopping in Chelsea. Christine's stake in their six-bedroom Nether Alderley house means it hasn't been sold, but there's pressure for that to change. 'Bankruptcy is a cleansing process,' declares Neil, who now saves money by no longer taking The Guardian and by avoiding Harrods.
Michael Barrymore: BANKRUPT, 1977, since DISCHARGED
FACED debts of £47,000, when a shop he owned with his then wife Cheryl went under. Barrymore, since discharged, learned his lesson, chose a quiet low-profile life, and never again allowed himself to get into the tabloids or come to the attention of the police. Well, maybe just a little.
William Stern: BANKRUPT, 1979, since DISCHARGED
AT the time, the property tycoon was Britain's biggest bankrupt, though he has since been discharged. He had debts of £118 million. Yet Stern bounced back and was soon happily building up loss-making companies again - so much so that a judge recently called him 'fundamentally irresponsible' and banned him from being a director for 12 years. The court heard that Stern had 'helped himself ' to at least £1.5 million from one of his companies, even though he knew it was going bust.
Bill Roache: BANKRUPT, 1999
ROACHE - better known as Ken Barlow - faced debts of £300,000 after suing The Sun for libel over claims that he was 'boring', and then suing his lawyers. It was never a good idea to sue Peter Carter-Ruck.
Roache declared himself bankrupt: the debts have grown to £600,000, despite his £166,000 salary and a recent attempt to become a pop star (with a rather bizarre mix of the sensuous Je t'aime and Elvis Presley's Teddy Bear, on which he raps: 'Spin, spin and let your hair down'). He is currently campaigning on an important human-rights issue, notably the Coronation Street management's 'devastating' plans to cut his pay by a quarter. Just don't call him boring.
Kim Basinger: BANKRUPT, 1993, since DISCHARGED
EIGHT years ago, the star of Batman and 9 1/2 Weeks, above, became an $8 million-a-movie actress. Unfortunately, this was the sum she was ordered to pay the film producers. She rather upset Main Line Pictures when she dropped out of Boxing Helena after expressing concern over nude scenes. The court case was of Hollywood proportions, with the producers' lawyers even trying to stop Basinger having children - as this would diminish the sum they might reclaim. Happily, she did get to give birth to a daughter, Ireland, with whom she now lives in Los Angeles, after splitting last December from her husband of seven years, Alec Baldwin. Now discharged, Basinger, a vegetarian, emerges occasionally to campaign for animal rights and to condemn the Stage Deli in New York for naming its bacon-and-chicken special 'the Kim Basinger Sandwich'.
(Evening Standard, August 17 2001)
IT'S the hottest celebrity accessory of the summer - and for those lucky enough to have one it brings champagne soirees at Claridge's, shopping binges on the King's Road and new careers in music, film or books. Neil Hamilton's got one, Greg Martin was given one, and others who have had one include Michael Barrymore and Kim Basinger. It's called a bankruptcy order - and if you're well-enough connected, it can be your entree to the high life.
Just look at Neil Hamilton - once merely a government minister, but today glorifying in the splendid lifestyle of an undischarged bankrupt. Let's follow Neil's diary for 5 May, which he kindly provided this week. A pleasant day's shopping in Chelsea, stocking up on food, fine wines and camera film in advance of a summer holiday; a relaxed afternoon with Christine, preparing 'jellied bloody mary and baked fish' - mmm - and chilled champagne for a cosy dinner party; followed by some gorgeous drinks among friends in Claridge's, where a glass of bubbly costs from £8. Let that be a warning to all those considering defaulting on their debts.
It helps if you're well connected, of course. When Darius Guppy emerged from Ford open prison, having served time and gone bankrupt over £1.8 million owed after a jewel swindle, his pal Charlie Spencer lent him a five-bedroom house on the Althorp estate, and family friend Michael Alexander offered him a room in his Eaton Place house to help his writing career. Bless them all, we say. As the Government attempts to reduce the stigma of bankruptcy, we look at the public-spirited celebrities who have long been doing their bit.
Jonathan Aitken: BANKRUPT, May 1999
AITKEN declared himself bankrupt with assets of £40,000 and debts of £2.6 million to the Inland Revenue, Coutts, Granada Television and The Guardian. He tried to wiggle out of giving them 8 Lord North Street, what with Lolicia and the kids to support, but that's now been sold, as have his antiques. His books fetched nearly £8,000 at auction, though were mostly bought back for him by friends, so maybe they'll have a whip-round for the old house.
Aitken famously began the trend among senior Tories for being jailed over perjury. A new career looms as an adviser on prisoner rehabilitation, primarily in the form of newspaper articles addressed to Jeffrey Archer.
Greg Martin: BANKRUPT, March 2001
THE lothario and film producer (go on, bet you can't name one) was made bankrupt over a £1,861 bill owed to tax consultancy Chiltern International Services - hardly worth the court sitting. Presumably he was too busy proposing marriage to eligible young women to notice the bill: at the time, a former flatmate badmouthed him as 'a sexual predator' who had made a living from 'preying on vulnerable women'.
Martin hasn't had much help from his dad Sir George, with whom he's not on the best of terms, but has continued to use his connections and his charm to get by. No matter that Tara Palmer-Tomkinson called off their engagement after just 25 days (they met at Mick Jagger's birthday party), or that another potential bride denounced him as a man 'not to be trusted with women' - he's since proposed to a Sardinian-born waitress on a Eurostar train.
Kevin Maxwell: BANKRUPT, 1992 since DISCHARGED
THE big one: now discharged, he was at the time Britain's biggest bankrupt, with debts of £406 million, something to do with his dad's business.
The debts would have given him something to think about during his 121 days in the witness box over fraud charges (he was acquitted). After the papers photographed him signing on at a Didcot dole office in 1993 (wonder who tipped them off?), the ensuing publicity brought him 300 job offers, including consultancy work for a head hunter that paid £1,200 per introduction. He has since become a director of at least 24 British companies, eight of them facing insolvency, and well-paid chairman of troubled telecoms company Telemonde, which describes him as having 'an extensive senior management background in communications and media'. Just don't ask him for advice on your pension.
Count Tolstoy: BANKRUPT, 1990 since DISCHARGED
THE Count declared himself bankrupt, owing £1.5 million to Lord Aldington after writing a libellous pamphlet accusing him of war crimes. He said his assets were £20,000, though he remained in his substantial Oxford-shire house. Then last year, irony of ironies, the Count inherited a reported £1.5 million from his stepfather, the author Patrick O'Brian. But he didn't feel like paying Lord Aldington any of it. Unfortunately, Lord Aldington faced a further problem: he died soon after, something Count Tolstoy was quoted as being less than sad about.
Meanwhile, the Count, now discharged, spends much of his time issuing legal warnings to newspapers that publish articles with headlines such as 'The bankrupts who live like millionaires'.
Neil Hamilton: BANKRUPT, May 2001
FOUND himself owing Mohamed Fayed around £1.2 million after a little legal dispute over brown envelopes. He now lives a quiet, reclusive life in rural Cheshire, with wife Christine, shunning the media spotlight. As if.
In between breaching his own privacy with evermore press conferences,H amilton claims to drink champagne and go shopping in Chelsea. Christine's stake in their six-bedroom Nether Alderley house means it hasn't been sold, but there's pressure for that to change. 'Bankruptcy is a cleansing process,' declares Neil, who now saves money by no longer taking The Guardian and by avoiding Harrods.
Michael Barrymore: BANKRUPT, 1977, since DISCHARGED
FACED debts of £47,000, when a shop he owned with his then wife Cheryl went under. Barrymore, since discharged, learned his lesson, chose a quiet low-profile life, and never again allowed himself to get into the tabloids or come to the attention of the police. Well, maybe just a little.
William Stern: BANKRUPT, 1979, since DISCHARGED
AT the time, the property tycoon was Britain's biggest bankrupt, though he has since been discharged. He had debts of £118 million. Yet Stern bounced back and was soon happily building up loss-making companies again - so much so that a judge recently called him 'fundamentally irresponsible' and banned him from being a director for 12 years. The court heard that Stern had 'helped himself ' to at least £1.5 million from one of his companies, even though he knew it was going bust.
Bill Roache: BANKRUPT, 1999
ROACHE - better known as Ken Barlow - faced debts of £300,000 after suing The Sun for libel over claims that he was 'boring', and then suing his lawyers. It was never a good idea to sue Peter Carter-Ruck.
Roache declared himself bankrupt: the debts have grown to £600,000, despite his £166,000 salary and a recent attempt to become a pop star (with a rather bizarre mix of the sensuous Je t'aime and Elvis Presley's Teddy Bear, on which he raps: 'Spin, spin and let your hair down'). He is currently campaigning on an important human-rights issue, notably the Coronation Street management's 'devastating' plans to cut his pay by a quarter. Just don't call him boring.
Kim Basinger: BANKRUPT, 1993, since DISCHARGED
EIGHT years ago, the star of Batman and 9 1/2 Weeks, above, became an $8 million-a-movie actress. Unfortunately, this was the sum she was ordered to pay the film producers. She rather upset Main Line Pictures when she dropped out of Boxing Helena after expressing concern over nude scenes. The court case was of Hollywood proportions, with the producers' lawyers even trying to stop Basinger having children - as this would diminish the sum they might reclaim. Happily, she did get to give birth to a daughter, Ireland, with whom she now lives in Los Angeles, after splitting last December from her husband of seven years, Alec Baldwin. Now discharged, Basinger, a vegetarian, emerges occasionally to campaign for animal rights and to condemn the Stage Deli in New York for naming its bacon-and-chicken special 'the Kim Basinger Sandwich'.
(Evening Standard, August 17 2001)
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