More on KentOnline
More on KentOnline
The former chief executive of Gordon Ramsay Holdings has had his bankruptcy restrictions extended by four years after he disposed of his share of property proceeds to his wife.
Christopher Michael Hutcheson, 72, of Wrotham Heath, received a four-year Bankruptcy Restrictions Order from the High Court which means he is now banned from running limited companies and must disclose his status whenever he attempts to secure £500 or more in credit.
He was the former chief executive of Gordon Ramsay Holdings Limited. The TV chef Gordon Ramsay is a director of the company.
The Official Receiver found that Hutcheson had transferred his share of the sale proceeds of his family home in September 2017 amounting to more than £328,000.
He did so, just five months before applying for his own bankruptcy in February 2018, despite having promised the proceeds of the sale to the tax authorities, the court heard.
The judge found that some of the evidence put forward by Hutcheson to explain these transactions was "disingenuous."
A Bankruptcy Restrictions Order was made at the High Court by Chief Insolvency and Companies Judge Briggs on November 5.
Fiona Cushley, the deputy official receiver at the Insolvency Service, said: "Hutcheson disposed of his only tangible asset to his wife knowing that this money should be shared among all of his creditors.
"Hutcheson was in business for many years and knew how the tax regime works.
"This transfer only happened after the tax authorities started asking for payment.
"The result of this case shows that further restrictions can be made if people do not follow the rules of bankruptcy and the Insolvency Service will not hesitate to take action where appropriate."
