Former footballer given 6-year bankruptcy restrictions

Danny Sean Guthrie (35) played football professionally for several English football clubs at a senior level,

In May 2019, Danny Guthrie borrowed £75,000 (€87,000) from a friend to help him pay his household expenses, promising to repay the loan with funds raised from selling a property.

However, prior to selling the property, Guthrie racked up gambling debts of £120,000 (€139,000). When he eventually sold the property in August 2020, receiving just over £160,000 (€185,000) in equity, he chose to repay his gambling debts ahead of other creditors by making several cash withdrawals despite knowing he was insolvent.

Danny Guthrie accepted a six-year bankruptcy undertaking, which runs until May 2028. As a result, he is under a number of restrictions, including not being able to borrow more than £500 (€580) without disclosing his bankrupt status, and he cannot act as a company director without the court’s permission.

Kevin Read, Official Receiver at the Insolvency Service, said: “Danny Guthrie’s actions were deliberate in dissipating assets, at a time he was already insolvent, and to the loss of his creditors.”

“This extension of bankruptcy restrictions should serve as a warning that the Insolvency Service will take action to tackle such financial wrongdoing.”