Riise residing in the poorhouse
Liverpool's John Arne Riise was declared bankrupt today. Yes,
that's right, bankrupt. Riise earns approximately £50,000 a week,
more than most of us see in a year, yet it appears that, by dint of
a tangled financial web of ex-agents, dodgy investments and unpaid
debts, he now officially has nothing left.
Liverpool full-back John Arne Riise has been declared bankrupt by
the courts for an unpaid debt of around £100,000. Riise, understood
to earn around £50,000 a week, was declared bankrupt at Liverpool
County Court on Tuesday. The 27-year-old is listed as a bankrupt on
the government's Insolvency Service website at
www.insolvency.gov.uk.
Legally, a bankrupt is a person who has debts they cannot pay. It
names Riise, gives his address, but fails to list his occupation,
giving the 'status' 'Currently Bankrupt'.
Riise is involved in a legal battle with his former agent, Einar
Baardsen, over how his fortune has been invested. Baardsen stopped
representing the player in 2005. The case is reported to be linked
to an alleged £3million fraud investigation currently going through
the courts in Riise's native Norway. It is understood Riise may be
liable for debts incurred from failed business enterprises,
including a hotel. Sources say the player may not even have been
aware he was being taken to court at the time - as he was away on
international duty with Norway. It is understood the bankruptcy
order was made after a debt of around £100,000 was not paid.
The debt was liable to be paid by him out of the legal dispute in
Norway. The player's solicitors are understood to be preparing to
go back to the court as early as Monday to have the bankruptcy
order annulled. A source close to the player said: "There was a
bankruptcy order issued at Liverpool County Court but it is an
oversight that the issue even came to court and the matter is now
in the hands of his solicitors treating it as a matter of
urgency.
"They are confident the issue can be resolved in the near future."
Struan Marshall, the player's agent, was not available for comment.
Riise left Monaco to join Liverpool for £4million in the summer of
2001. He signed a new contract last January that keeps him at the
club until 2009. spokesman for Liverpool said: "We are unable to
comment as this is a private matter."
Being declared bankrupt means an official receiver, a government
appointed official, can assume legal control of an individual's
assets. A bankrupt cannot obtain credit of more than £250 or open a
new bank account.
