Bradbury and Peebles declare bankruptcy

In December the Supreme Court turned down the final appeal by Clive Bradbury and Gregory Peebles in relation to the Trinity tax avoidance scheme which was found to be unlawful. It involved potential tax losses of $3.7 billion.

A reader has pointed out that Mr Bradbury was declared bankrupt in January, and Mr Peebles in February.

I guess this means taxpayers won’t be getting all their money back. A pity.