Westlife’s Shane Filan declared bankrupt with debts of £18million

eleanort
110% pop
14 June 2012

Shane Filan has said he is "devastated" that he has been declared bankrupt.

Shane Filan, bankrupt
Shane Filan, bankrupt

Westlife singer Shane Filan's property empire in Ireland has collapsed, with Kingston County Court in Surrey ruling this week that the 32-year-old is bankrupt.

It is reported Shane Filan, who is touring with Westlife one last time, has debts of £18million.

[Related article: Westlife announce UK tour]

Dad-of-three Shane Filan told the Mirror: "Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail. I have worked long and hard to try to reduce my debts, and I am devastated that it came to this conclusion.

"I now intend to focus on the remaining dates of the Westlife tour and my commitments to the band before looking to rebuild a future for my wife, my three children and myself."

Shane Filan, bankrupt, Westlife
Shane Filan, bankrupt, Westlife

Shane Filan set up Shafin Developments with his brother Finbarr and borrowed millions from Bank of Ireland and Ulster Bank to construct a 90-home estate in Dromahair, Co Leitrim.

Just 50 homes were built and many were sold for less than cost price.

[Related article: Westlife are splitting up]

Shane Filan has sold his Aston Martin for £322,000 and is said to earn £4million from Westlife tour.

After Westlife's farewell shows in Dublin next week, Shane Filan will launch a solo career with the help of Louis Walsh.

Westlife, Shane Filan, solo, Louis Walsh
Westlife, Shane Filan, solo, Louis Walsh

Louis Walsh said: "Shane is going to have a massive career after Westlife. He's going to have a great solo career and make millions. He'll start all over again and remake the riches in no time at all.

"He had no money when he started off before Westlife, and now he'll make it all back when he becomes a massive star."

What to read next

Control Your Smoker from Your Phone!

Char-Broil's connected smokers let you cook on the go with the innovative SmarChef™ mobile app.

Prostate Cancer Symptoms and Treatment

Close to 100% of people with Prostate Cancer will Survive with appropriate Treatment. Get informed and search for Treatment of Prostate Cancer here

Medicare Doesn't Cover All Expenses

Compare Medicare Plans from Top Carriers and Find a Plan that Does. Get Covered Today!

New 55-and-Better Ryan Homes in River Crossing

Low-maintenance, active-adult community in Fredericksburg with main-level living homes close to I-95, Central Park & more from $1,442/month!*

The Most Inclusive Luxury Experience

Redefine your concept of cruising and discover a lifestyle of luxury aboard our all-inclusive, six-star fleet a world where everything is included.

Republic Wireless™

Plans Start at $10/month. Moto G™ & Moto E™ Smartphones. No Contract. Get Paid Back for Data You Don't Use.