Calum Best Declares Himself Bankrupt After Spending Fortune On Party Lifestyle

Calum Best is the latest celeb to file for bankruptcy after blowing a fortune on partying.

Calum - the son of football legend George Best - admits he had 'made mistakes'' with his cash, which left him unable to pay a tax bill.

Calum Best

The 32-year-old told The Sun: “I was blessed to earn a large amount of money at a young age, and mistakes have come with that. But also lessons learned.

"I can confirm I have made the decision to declare myself bankrupt as a result of being unable to make tax repayments.

“I feel as though this decision is the most constructive option.”

According to his management team, the former party animal is now looking forward to changing his ways.

A spokeswoman said: “Calum has made the decision to declare himself bankrupt.

“What it does do, however, is mark the beginning of a new chapter in his life. A clean slate and the chance to pursue some exciting new projects.”

Calum is the latest celeb to go public about their financial woes.

Just last month, Blue star Duncan James revealed he was bankrupt and in February former 'Eastenders' star Martine McCutcheon did the same.

Kerry Katona owed about £1m upon declaring herself bankrupt and Westlife's Shane Filan was also filed for bankruptcy just days before the hugely successful Irish group played their farewell show last summer after suffering losses as a result of the property crash.

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  Kerry Katona

  
  

  Despite her fortune for her Atomic Kitten days and various relaity TV appearances, Kerry was officially made broke in 2008 when she failed to cough up the final £82,000 of a £417,000 tax bill. A turn as a housemate on 'Celebrity Big Brother' helped her to finally pay off her debts.

  
  


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  Shane Filan

  
  

  The Westlife star and property investor was made bankrupt in June 2012 when the housing market crashed, and left him owing more than €5.5m (£4.45m) to Ulster Bank and Bank of Ireland.

  
  


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  Martine McCutcheon

  
  

  Martine filed for bankruptcy in in 2013, when she amassed debts of £187,000.

  
  


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  Stephen Baldwin

  
  

  When Stephen defaulted on a mortgage payment in 2009, he filed for bankcruptcy claiming he was $2.3m in debt.

  
  


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  Joe Swash

  
  

  The former 'EastEnders' star was made bankrupt by London's High Court in 2009 after he failed to pay a £20,000 tax bill.

  
  


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  Peter Stringfellow

  
  

  Peter lost a reported $20m in 1992 after a failed attempt to crack America.

  
  


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  Christopher Biggins

  
  

  Biggins reckons that going into voluntary bankruptcy 15 years ago was the 'best thing that ever happened' to him. The star was forced into it after work offers slowed down.

  
  


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  Mike Tyson

  
  

  The boxer owed both the US and British governments $17m in taxes, $750,000 to law firms and $300,000 to limo services and became bankrupt in 2004.

  
  


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  Donald Trump

  
  

  He may be a multi-billionaire, but Donald Trump has filed for corporate bankruptcy four times! However, he has never filed for personal bankruptcy.

  
  


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  Neil Morrissey

  
  

  Neil entered into an individual voluntary arrangement (IVA) after a property scheme in which he invested collapsed, leaving him millions of pounds in debt.

  
  


• 
  

  MC Hammer

  
  

  One hit wonder MC Hammer's living beyond his means meant he was $13m in debt and filed for bankruptcy in 1996.

  
  

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