I have no doubt that the plan he proffered to ultimately yield 85p in the pound was perhaps a 10 year plan. I also have no doubt that he is subject to a three year income payment order under his uk bankruptcy, which means he has about two years to go. If you research these on the UK courts websites its clear he would be left with approx 20k per annum to live on from his pension income. Once his book is for sale his official assignee can review his income and up the payment order for the remainder of the three year term.
I have no doubt that in 10 or 15 years time Mr. Yates will have a business worth 3 million again and the bank might regret their course of action even more than they do at present.
I have no doubt that in 10 or 15 years time Mr. Yates will have a business worth 3 million again and the bank might regret their course of action even more than they do at present.