Boris Becker, a German tennis legend, was discharged from bankruptcy court in London after a judge found that he had done everything he reasonably could to repay his creditors, despite falling far short of repaying the nearly $62.5 million he owed. Chief Insolvency and Companies Court Judge Nicholas Briggs noted that Becker had made efforts to cooperate and provide information and deliver assets, leading to the decision to end the case. Becker was deported to Germany two years ago after serving 8 months in a London prison for illicitly transferring large amounts of money and hiding $3.1 million in assets after he was declared bankrupt in 2017, leading to his conviction on four charges under the Insolvency Act.
During his tennis career, Becker rose to stardom in 1985 at the age of 17 when he became the first unseeded player to win the Wimbledon singles title. He went on to become the world No. 1 player, winning multiple titles at Wimbledon, the Australian Open, and the U.S. Open. After retiring from professional tennis in 1999, Becker worked as a coach, television commentator, investor, and celebrity poker player. He declared bankruptcy after owing creditors nearly $62.5 million over an unpaid loan of more than $3.75 million on his estate in Mallorca, Spain, citing laziness and bad advice as reasons for his financial problems.
Becker was convicted in a London court on four charges under the Insolvency Act, including removal of property, concealing debt, and two counts of failing to disclose estate. He was acquitted of 25 other charges, including nine counts of failing to hand over Grand Slam trophies and an Olympic gold medal to bankruptcy trustees. Despite being sentenced to 2 1/2 years in prison, he was released early under a fast-track deportation program for foreign nationals. The joint trustees did not oppose Becker’s effort to end the case but did not support it due to the approximately $52.5 million he still owed. However, a settlement was reached with Becker’s lawyer indicating that he must pay a substantial sum as part of the agreement, which includes the outstanding trophies.
The judge’s decision to discharge Becker from bankruptcy court in London marked the end of a chapter in the tennis legend’s financial troubles. Despite falling short of repaying his creditors the full amount owed, the effort he made to cooperate and provide information led to the judge’s decision to end the case. Becker’s rise to stardom in the tennis world and subsequent career after retiring has been marked by success and accolades, although his financial struggles have been a significant setback. Moving forward, it remains to be seen how Becker will navigate his financial situation and continue to rebuild his reputation following the bankruptcy case.
