Leeds County Court has extended the amount of time that a former Leeds United director and property developer will be bankrupt by another ten years after he failed to reveal all of his assets to recovery specialists representing his creditors.
The court ruled that Mr Simon Morris had “dealt with monies held in bank accounts in his name after the date of the bankruptcy order to the detriment of his bankruptcy creditors.”His company SRM Holdings had a portfolio of over 500 residential and commercial properties in Leeds, but went into administration in October 2008 with debts of over £50million owed primarily to high street banks. Mr Morris was consequently made redundant and declared bankrupt a year later.A bankrupt is normally discharged after a year and released from most of their debts owed but Morris’ discharge has been suspended for ten years, a move that forensic recovery specialist Kevin Mawer of KPMG described as “extremely unusual” to the Yorkshire Post.“An individual is normally entitled to an automatic discharge from bankruptcy one year after being made bankrupt,” Mr Mawer commented. “However, a trustee in bankruptcy can make an application to court for that automatic discharge to be suspended in instances where a bankrupt has failed to co-operate with the trustee’s enquiries.”The Serious Fraud Office dropped their investigation into Mr Morris last year due to insufficient evidence, and though he has been arrested and his house has been raided a number of times due to accusations of money laundering and fraud, he has yet to be charged and still vehemently proclaims his innocence.Manchester debt firm is liquidated owing creditors over £2.2m
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