Gazza's Not Going Bankrupt

25 May 2011, 12:24

A court has dismissed a petition to force Ex Newcastle footballer Paul Gascoigne into bankruptcy.

A judge was told during a hearing lasting just minutes that Gascoigne, whose clubs included Newcastle, Tottenham and Rangers, had reached agreement with his creditors.

The 43-year-old, who owes the taxman £32,000 and had faced a bankruptcy petition brought by Her Majesty's Revenue and Customs (HMRC), was not present for the proceedings, and was not represented.

The last hearing in the case was on April 13, when Deputy District Judge Holmes-Milner adjourned the petition until Wednesday.

At a previous hearing, the court heard that a proposal had been put forward by Gascoigne which would allow him to pay off the full debt to HMRC within a structured timescale.

District Judge Clarke, sitting at the Bankruptcy Court in London, heard that Gascoigne's "individual voluntary arrangement'' had been approved on May 13 at a meeting of creditors.

She dismissed the petition. Gascoigne has to pay £825 costs.

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