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The Analysis News & Opinions


Former footballer given six- year bankruptcy restrictions


A former professional footballer now coaching abroad chose to pay off £120,000 gambling debts ahead of other creditors. Danny Sean Guthrie (35) played football


professionally for several English football clubs at a senior level. In May 2019, Danny Guthrie borrowed £75,000 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


Guthrie racked up gambling debts £120,000. When he eventually


ahead of other


property of


sold the


property in August 2020, receiving just over £160,000 in equity, he chose to repay his gambling debts


creditors


by making several cash withdrawals despite knowing he was insolvent. Danny Guthrie


accepted a


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 without disclosing his


bankrupt status, and he cannot act as a com- pany director without the court’s permission. Kevin Read, offi cial 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 fi nancial wrongdoing.” Meanwhile, a London-based church group


wound up after failing to properly account for more than £1.87m of outgoings and operating with a lack of transparency. Salvation Proclaimer Ministries Limited,


more commonly known as SPAC Nation, was wound up in the public interest in the High Court on 9 June 2022 before Judge Burton. The Offi cial Receiver has been appointed as liquidator of the company. The court heard that SPAC Nation was


incorporated in 2012, a charity set up to advance Christianity. Much of its charitable work was based in London, working particularly with vulnerable people, youth, and off enders.


June 2022 six-year


Initially, the church group received positive


reviews and media attention. But by late 2019 SPAC Nation was subject to media scrutiny following allegations by former church members they had been fi nancially exploited by senior church personnel. The Insolvency Service received complaints


about SPAC Nation before instigating its own confi dential enquiries into the church group’s activities. Investigators interviewed one of the fi rm’s


directors, Adedapo Olugbenga Adegboyega, who was also known as Dapo Adegboyega or Pastor Dapo. During interviews, Mr Adegboyega


said that the


and would hire venues across London to hold services, at signifi cant expense. Salvation Proclaimer Ministries Limited


was wound-up after the court concluded the company operated with a lack of transparency, fi led suspicious or incorrect accounts, and was insolvent at the time of the hearing. It was recognised the company provided inconsistent information to the Insolvency Service and Charity Commission, and failed to deliver up adequate accounting records. The company remains subject of a statutory


church group


had over 2,000 members and 200 ordained ministers and pastors but failed to provide any supporting information. Further enquiries found that SPAC Nation failed


either to comply or only partially


complied with statutory requirements, including providing data to support claimed donations, and accounting records in support of £1.87m of expenditure. The company’s fi nancial statements in


the two years to 31 December 2019 set out £610,000 of rent expenditure. However, the company did not have a single base of its own


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inquiry by the Charity Commission, who are examining fi nancial, governance and safeguarding matters at the charity. Edna Okhiria, chief investigator


for the


Insolvency Service, said: “While SPAC Nation claimed it had noble intentions to support vulnerable and young people, our enquiries uncovered a diff erent side of the charity. There were clear concerns around how the church group managed its aff airs and SPAC Nation failed to properly account for income received from donations and other expenditure. “The


court recognised the severity of


SPAC Nation’s actions and this sends a strong message that proper records and accounts must be maintained, even if you’re a charity.”


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