Fecks sake!

[AtW]

Tracy Edwards declared bankrupt
Tracy Edwards

Edwards was made an MBE in 1989
Round the world yachtswoman Tracy Edwards has been declared bankrupt.

The 43-year-old, who was awarded an MBE for skippering the first all-women crew around the world, is now building a new life with her daughter in the Gulf.

In February, Ms Edwards said the debts she owed to sponsors made her life "a misery" and forced her to leave the UK.

The bankruptcy petition for £60,000 was brought by Gregory Browne, the former financial director of her company, Quest, who was dismissed last year.

The loan for her yacht and money owed to crew and promotions companies amounted to £6.3m.

However, it has been reported that Ms Edwards has personal debts of £8m.

It is thought she could lose the farmhouse she shared with her five-year-old daughter and mother in Yattendon, near Reading, Berkshire.

Miss Edwards did not attend the 10-minute hearing at the London Bankruptcy Court and was not represented by lawyers.

[RichardCranium]

Update:

In September 2005 Tracy was forced into bankruptcy after a company in Qatar failed to pay her company, Quest, the £6million owed for The Oryx Quest 2005 - The first round the world race to start and finish in the Middle East. Tracy had borrowed £8million from a bank in Qatar to enable the event to go ahead.

The event was hugely successful with the participation of the four biggest, fastest multihulls in the world taking two months to race around the globe from and back to Doha in Qatar. The event created $46million worth of PR in Qatar's key target markets.

In July 2005 Tracy travelled back to Qatar to attend meetings with the Qatari company that owes the money. The meetings did not happen; they had never been organised. When Tracy attempted to travel home to deal with the liquidation of her company and organise an IVA for her personal debts in the UK, The Foreign Minister of Qatar stopped her exit visa and she was held illegally in Qatar for 28 days whilst being asked to sign a declaration (in Arabic) absolving Qatar of their debt to Quest. She did not sign and was eventually released after the intervention of The Emir.

Tracy was never officially served with her bankruptcy papers but was made bankrupt in her absence on her 43rd Birthday 5th September 2005. She lost her home, her life savings, all her assets, her pension and her life insurance policy leaving her 5 year old daughter totally vulnerable. Tracy lost twenty years of her life's work in one day.

A year later she was discharged from Bankcruptcy and three years later Tracy and her daughter live in London after having rebuilt their lives from scratch.

She now makes a living from motivational speaking.

[wobbegong]

Here's a few motivational words for her;

1. Live within your means.
2. Don't use your young children as a sympathy edge.
3. You've done more with your life than most will ever do, so don't expect us to either be sympathetic, or to bale you out.

[Tingles]

Here's a few motivational words for her;

1. Live within your means.
2. Don't use your young children as a sympathy edge.
3. You've done more with your life than most will ever do, so don't expect us to either be sympathetic, or to bale you out.

My thoughts...

1. We don't know and will never know the full story.
2. The papers are using her daughter for the sympathy angle - not her as far as we know (See 1).
3. See 1.



Tone

[d000hg]

Here's a few motivational words for her;

1. Live within your means.
2. Don't use your young children as a sympathy edge.
3. You've done more with your life than most will ever do, so don't expect us to either be sympathetic, or to bale you out.

And here's some for you: You're an arrogant jerk. Grow up.

OK maybe not motivational as such

[Pondlife]

3. You've done more with your life than most will ever do, so don't expect us to either be sympathetic, or to bale you out.

Hay, that's a bit harsh.

[thunderlizard]

1. Live within your means.
2. Don't use your young children as a sympathy edge.
3. You've done more with your life than most will ever do, so don't expect us to either be sympathetic, or to bale you out.

reminds me of a bit of Patrick Pearse:

We are not content with teaching the ten commandments that God spake in thunder and Christ told us to keep if we would enter into life, and the precepts of the Church which He commanded us to hear: we add thereto the precepts or commandments of Respectable Society. And these are chiefly six:
Thou shalt not be extreme in anything in wrong-doing lest thou be put to gaol, in right-doing lest thou be deemed a saint;
Thou shall not give away thy substance lest thou become a pauper;
Thou shalt not engage in trade or manufacture lest thy hands become grimy;
Thou shalt not carry a brown paper parcel lest thou shock Rathgar;
Thou shalt not have an enthusiasm lest solicitors and their clerks call thee a fool;
Thou shalt not endanger thy Job.

[wobbegong]

And here's some for you: You're an arrogant jerk. Grow up.

OK maybe not motivational as such

You're dammed right that wasn't motivational, in fact it was nearly insulting.

[d000hg]

You're dammed right that wasn't motivational, in fact it was nearly insulting.

It's a fine line sometimes