Reggae Legends UB40 Are Bankrupt...posted on 17 October 2011 | posted in Celebrity Debt | ( 1 ) CommentsJust as we enter into another winter of debt and over spending, it seems not all is well in the world of celebrity finance... Reggae legends UB40 who have sold over 70 million records worldwide and had hits such as 'Red Red Wine" and '(I Can't Help) Falling In Love With You' have been made bankrupt, with four of it's members, Brian Travers, Terence Oswald (Astro), Jimmy brown and Norman Hassan declaring bankruptcy at Birmingham County Court. All four members could now face losing assets and having their property seized to pay off any unsecured creditors and outstanding debts. The bankruptcy revolves around the the failure of the bands record label and managment company DEP International, and back in July 2011 the band were warned by the court that they would have to pay legal costs on the court case, which at that time were at running into thens of thousands of pounds. Frontman Ali Campbell quit the band back in 2008 because of ongoing issues over the bands finances. His spokesman commented: " It is ironic that the very week that they celebrate their first gig without Ali, they have been declared bankrupt, after administration began in 2006, vindicating both Ali and Mickey Virtue's decision to leave UB40." However Robin Campbell, Ali's brother and another founder member of UB40, was also involved in the Birmingham County Court case, although he has not been listed as bankrupt. This news comes after the band played a special show at the Hound and Hare pub in Kings Heath, Birmingham, honouring their first ever show which was held thre back in 1978. I guess that night there was alot of 'Red Red Wine" drank that evening with the thought of 'Many Rivers To Cross" ahead. But then the tax man was always going to be whistling along to 'I Got You Babe'..... I wish UB40 all the best for the future and I hope they can now finally move on and clear the bands finances. (Author: Darren Perks) Share this blog entry:
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