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Tracy Edwards declared bankrupt
01 Nov 2005
Recently stranded in the Gulf state of Qatar for a month because an alleged creditor obtained a court order preventing her leaving, Edwards now expects to lose the £1m farmhouse she shares with her daughter Mackenna, five, and her 72-year-old mother Patricia, as much of the debt is secured against it.
Edwards, who was declared bankrupt on her 43rd birthday, has a reputation for getting into financial troubles. She had lost everything, she claimed, and was "reduced to borrowing my mother's disability allowance to feed my family".
The petition that brought things to a head was filed by Gregory Browne, who was dismissed as the financial director of Edwards' Quest company.
Edwards sprang to national fame when she announced a £38m Qatari sponsorship deal for the Oryx Cup round the world race for catamarans. None of the finishers has received a penny in prize money yet.
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