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| Shane Filan |
One would think that being part of super group Westlife, you
would be financially fine, but it seems not. Shane Filan reportedly spent
"months" working with a team of financial experts to help him get out
of trouble, but he has now been ruled officially bankrupt at Kingston County
Court, Surrey. Music-news reports that the 32-year-old star - who had to sell
his Aston Martin for £322,000 - said: "Together with a team of financial
and legal experts I have spent months exploring all possible alternatives to
bankruptcy but to no avail. I have worked long and hard to try to reduce my
debts, and I am devastated that it came to this conclusion. I now intend to
focus on the remaining dates of the Westlife tour and my commitments to the
band before looking to rebuild a future for my wife, my three children and
myself." The singer's financial downfall came after his and his brother
Finbarr's company Shafin Developments borrowed millions from Bank of Ireland
and Ulster Bank during the economic boom with a view to constructing a 90-home
estate in Dromahair, County Leitrim - but only 50 houses had been built when
the site was recently inspected. Other projects including a nursing home and
supermarket in Ireland have also been stopped. Shane is due to continue singing
at Westlife's farewell tour - which is expected to net him £4 million - with
farewell gigs in Dublin, Ireland, next week before he starts a solo career,
which will be managed by 'X Factor' judge Louis Walsh, who believes the Irish
star will "make millions" from the project. He is quoted by the Daily
Mirror newspaper saying: "Shane is going to have a massive career after
Westlife. He's going to have a great solo career and make millions. He'll start
all over again and remake the riches in no time at all."
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