Conservative MP Adam Afriyie made bankrupt due to £1.7million debt
13 December 2022, 13:23 | Updated: 13 December 2022, 14:18
Conservative MP Adam Afriyie has been made bankrupt after a judge heard he owed around £1m to HMRC and £700,000 to Barclays bank.
A bankruptcy order was made against the MP at a hearing in the Insolvency and Companies Court on Tuesday.
Responding to the court order, the Windsor MP said it was "a stressful time".
He said: "This has been ongoing for many years following business failures some time ago.
"I am ultimately responsibly for some of the bank borrowing through personal guarantee. I've been trying to sell our home and downsize for some time, but it's a tough market.
"It'll be tough for a while, but I'm far from the only person in a difficult position, and I will continue to do my best to support my constituents until the next general election when I'll be standing down."
Mr Arfiyie had asked for the court proceedings to be adjourned until March arguing he would be able to pay off his debts by selling off a property.
HMRC and Barclays opposed pausing the case, with the bank's barrister arguing that the company had "lost patience" adding: "We have seen no credible evidence that the property will be sold any time soon."
Judge Nicholas Briggs said: “There have been six hearings already of this matter so time really has run out.
“I shall make a bankruptcy order.“It seems to me there is no evidence of there being any reasonable prospects of paying debts in full.”
Windsor Conservative Association have declined to comment.
Mr Afriyie has represented the Berkshire constituency since 2005 and during that time has served as a shadow science minister and a trade envoy to Ghana.
In 2013, there were reports MPs were working on a campaign to replace David Cameron with Mr Afriyie as Conservative leader, if the party lost the 2015 election.
