Overview

• HM Revenue & Customs lodged the petition on August 11 at the High Court in London, renewing bankruptcy proceedings against the former England and Liverpool winger.
• Liquidators report John Barnes Media Limited owes £776,878 to HMRC in unpaid VAT, National Insurance and PAYE, £461,849 to unsecured creditors, a £226,000 directors’ loan and £56,535 in fees.
• The insolvency estate is expected to make a small distribution to HMRC but leave unsecured creditors with no recovery.
• Barnes has repaid £60,000 of his directors’ loan and remains disqualified from serving as a company director for 3½ years under an Insolvency Service undertaking.
• The petition follows findings that his firm failed to pay more than £190,000 in corporation tax and VAT between November 2018 and October 2020.