What does it actually mean to go bankrupt?

Think leading a well-known political party means money is no problem? Think again. Nick Griffin, the leader of the British National Party, has just been declared bankrupt with debts of £120,000.

On the face of it, this makes little sense, says Ian Burrell in The Independent. Griffin could have pulled in a “near £1m income” over the last five years as an MEP if you add his salary and allowable expenses.

He is hardly the first apparently highish-income earner to find himself with a declaration. Griffin joins the likes of Westlife star Shane Filan, Kerry Katona and TV chef [...]

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