Ruling due on Walker

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The Independent Online
GEORGE WALKER, the fallen property and leisure tycoon, will learn on Wednesday whether he is to become Britain's second-biggest bankrupt after Kevin Maxwell. He owes creditors pounds 180m, including pounds 40m to the Inland Revenue. The Vice Chancellor, Sir Donald Nicholls QC, will announce his decision after mulling over the evidence since a four-day hearing just before Easter.

If Mr Walker escapes bankruptcy, creditor banks are likely to pursue another, separate petition later in the year. They are pressing for bankruptcy to enable a full investigation of a series of trusts, related companies and alleged transfers of funds beyond the reach of creditors.

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