Yates may move to Swansea to declare bankruptcy

IVAN Yates could be the next high-profile businessman to jump ship to Britain to take advantage of more lenient bankruptcy laws after admitting he is unlikely to get through 2012 without his creditors coming calling.

The broadcaster, writer and former government minister lost his Celtic Bookmakers chain this year, leaving him liable for more than €4 million in personally guaranteed loans.

“I am fully expecting to go bankrupt in 2012, whether it’s in Ireland or another European jurisdiction,” he said in an interview for Image magazine. “I have to take the view that by going bankrupt, I will at some point get a fresh start.