Nigel Farage is still celebrating the historic Leave victory in the EU referendum — but the champagne has lost its sparkle for his little brother.
Commodities broker Andrew Farage has been declared bankrupt, I can disclose. The move comes after a petition was brought by debt collection company 1st Credit (Finance).
It led a line of creditors, which included HM Revenue & Customs, Bromley Council, payday and instalment loan company MyJar and debt collection company Gothia Ltd.
Nigel Farage, right, is still celebrating the historic Leave victory in the EU referendum — but the champagne has lost its sparkle for his little brother, commodities broker Andrew Farage, left
Other creditors include Royal Bank of Scotland and TFG Security Limited with whom Andrew, 50, and his wife, Wendy, have their mortgage.
‘Yes, it’s true I was declared bankrupt in May,’ Farage Minor tells me. ‘But I am taking legal action to have the bankruptcy annulled. It was all a misunderstanding and I have now paid off the debt.’
Though it is a personal bankruptcy, the financial trouble follows the commodities firm that Andrew set up in 2003 with former Ukip leader Nigel, Farage Ltd, going into liquidation, owing the taxman more than £75,000.
Nigel, 52, who worked in the City of London before becoming a politician, stepped down as a director of Farage Ltd in 2006, but remained company secretary until 2011. Andrew headed the firm in recent years and, despite being paid a total of nearly £1 million in dividends, was declared bankrupt on May 24.
The brothers were raised in the South London suburbs by their mother, Barbara, after their father, Guy, a dashing stockbroker who was also an alcoholic, left her when Andrew was three years old.
Andrew lives with his wife in Orpington, Kent, in a house they bought for £275,000 in 1999. It’s now worth around £900,000. Nigel has said his parents’ divorce blighted his first few years at school because coming from a broken home was considered shameful at that time.
The former Ukip leader idolised his absent father, whom he once described as ‘the best-dressed man in the Stock Exchange at the time’ and blamed his over-protective mother for spoiling all their fun.
Greg Lance - Watkins (Greg_L-W)
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