British National Party leader, Nick Griffin, has been declared bankrupt.
Griffin was declared bankrupt on 2nd January 2014 at Welshpool and Newtown County Court.
Mr Griffin’s financial problems have occurred following following a legal dispute with solicitors. Mr Griffin is not subject to a bankruptcy restriction order (BRO).
Appointed to lead the BNP in 1999 and elected to the European Parliament in 2009, Griffin has often courted controversy on the subjects of immigration, race and civil partnerships.
In an effort to avoid the bankruptcy, Mr Griffin had applied for an IVA (Individual Voluntary Arrangement) offering to pay 42p in the £ over 5 years to unsecured creditors. However the proposal was rejected and a bankruptcy order was made.
Mr Griffin will not step down as party leader, and believes that the experience will help him understand the problems faced by constituents who are also facing financial distress.
Source: Insolvency News