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  #1401  
Old 01-10-2015, 10:04 PM
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Sarah has never filed for bankruptcy and has settled her debts in the same way as many people who are heavily in debt - some of what is owed and the rest written off. If she had declared bankruptcy these people would have received absolutely zero - better to take 10% of what is owed than nothing.
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  #1402  
Old 01-10-2015, 10:16 PM
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Quote:
Originally Posted by Iluvbertie View Post
Sarah has never filed for bankruptcy and has settled her debts in the same way as many people who are heavily in debt - some of what is owed and the rest written off. If she had declared bankruptcy these people would have received absolutely zero - better to take 10% of what is owed than nothing.

I suppose. But it does seem rather callous and selfish.
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  #1403  
Old 01-10-2015, 10:39 PM
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Quote:
Originally Posted by Jacknch View Post
It appears that the Swiss property was purchased by way of a joint mortgage as a family investment, according to the BBC:
BBC News - Prince Andrew and Sarah Ferguson buy luxury chalet

As such, provided they have sufficient monthly income to pay it, I think we can rest easy.
The article stated Prince Andrew has "a modest naval pension".
Has the amount of Andrew's naval pension ever been stated?
  #1404  
Old 01-10-2015, 10:48 PM
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Quote:
Originally Posted by Iluvbertie View Post
Sarah has never filed for bankruptcy and has settled her debts in the same way as many people who are heavily in debt - some of what is owed and the rest written off. If she had declared bankruptcy these people would have received absolutely zero - better to take 10% of what is owed than nothing.
I didn't realize bankruptcy was different in the UK. In the USA, where her company Hartmoor dissolved due to massive debts, in bankruptcy all of a person's assets are liquidated and the proceeds are divied up between the creditors - since we don't know what assets Sarah had (jewelry, for example) it's hard to say whether the creditors accepted more than they would have received if Sarah had been subjected to the bankruptcy laws which are designed to deal with spendthrifts such as her.
  #1405  
Old 01-10-2015, 10:57 PM
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Originally Posted by tommy100 View Post
Personally I'd be surprised if they don't rent it out. The only down side is I can see Fergie posing for photos/newspaper articles promoting it at some point which is just a new PR disaster waiting to happen.
The people who rent houses like this do not look at advertising. There are high-end real estate companies their assistants would ring up to rent the property. If this place is rented out, there will be no ads starring Sarah.

I think, not only will this place be available for rental, there will be a waiting list of the rich and famous who want to ski or hike in Verbier while staying at the home of royalty.

Quote:
Originally Posted by sndral View Post
I didn't realize bankruptcy was different in the UK. In the USA, where her company Hartmoor dissolved due to massive debts, in bankruptcy all of a person's assets are liquidated and the proceeds are divied up between the creditors - since we don't know what assets Sarah had (jewelry, for example) it's hard to say whether the creditors accepted more than they would have received if Sarah had been subjected to the bankruptcy laws which are designed to deal with spendthrifts such as her.
There are several different kinds of bankruptcy in the U.S. If Sarah's company was dissolved, that doesn't mean her personal assets were taken from her. An individual is separate from their company and only the company assets are dissolved and distributed to creditors. (I'm assuming she, or her attorney, was smart enough to have done this.) Her company was probably a LLC (Limited Liability Company), which means she had zero personal liability. She would have lost only the money (if any) she invested into the company. (Most famous people only "invest" their name into a company but I have no clue if Sarah did this.)
  #1406  
Old 01-10-2015, 11:16 PM
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Re Sarah and Bankruptcy, a few points

1) She has never declared bankruptcy.

2) She paid off her 1990s Coutts overdraft, in full, through her first Weight Watchers contract, a contract with Wedgewood fine china and an Ocean Spray cranberry juice ad. These contracts were facilitated by her friend, Sir Tony O'Reilly.

3) Hartmoor was an LLC that Sarah owned 50% of which she invested over a million dollars into, all of which was lost when the company was dissolved.

4) In 2010/2011 when Sarah was again in financial trouble, Prince Andrew's office intervened and did the negotiating on her behalf with her creditors. The widely reported sum was 25%, or .25 pence for every pound she owed.
  #1407  
Old 01-10-2015, 11:59 PM
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Quote:
Originally Posted by CyrilVladisla View Post


The article stated Prince Andrew has "a modest naval pension".
Has the amount of Andrew's naval pension ever been stated?
Duchess of York: Shamed Fergie is seeking bigger divorce payout from Andrew | Daily Mail Online

according to this daily mail article £30,000 a year. Whilst the DM is not usually the best source I have family who have retired from the military and I'd say that its about right.
  #1408  
Old 01-11-2015, 01:28 PM
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Originally Posted by Mirabel View Post
I suppose. But it does seem rather callous and selfish.
I agree with that. Nasty people comes to mind.
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  #1409  
Old 01-11-2015, 02:27 PM
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I'm going to guess that the vast majority of the deposit for this purchase, which is likely to be 'only' around 30% of the purchase price, came from Andrew/Beatrice/Eugenie (the latter 2 via their trust funds). Probably Sarah could only contribute a small sum. It's being described as a "family investment" which doesn't mean everyone contributed an equal share.

I'd be amazed if they don't rent it out. They wouldn't be the first royals to do so and if they're there 2 or 3 times a year as has been reported, it'd be empty most of the time anyway.
  #1410  
Old 01-11-2015, 02:37 PM
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Quote:
Originally Posted by Iluvbertie View Post
Sarah has never filed for bankruptcy and has settled her debts in the same way as many people who are heavily in debt - some of what is owed and the rest written off. If she had declared bankruptcy these people would have received absolutely zero - better to take 10% of what is owed than nothing.
I was in the banking industry for many years. It is not unusual for banks to receive less than what they are owed if a business fails. The reasoning is- the bank (or whatever lender) is a partner in the business. They share in the losses as well as the profits (if any). It is neither illegal nor immoral for a borrower to pay back only a token amount to their business partner.
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  #1411  
Old 01-11-2015, 02:43 PM
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And that's fine when your talking about banks and large multinational businesses. I think the small family run shops and businesses around Windsor where she built up a lot of her debts probably weren't so happy to take less than the full amount owed, especially as they weren't partners in anything.
  #1412  
Old 01-11-2015, 05:20 PM
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Quote:
Originally Posted by PetticoatLane View Post
I'm going to guess that the vast majority of the deposit for this purchase, which is likely to be 'only' around 30% of the purchase price, came from Andrew/Beatrice/Eugenie (the latter 2 via their trust funds). Probably Sarah could only contribute a small sum. It's being described as a "family investment" which doesn't mean everyone contributed an equal share.

I'd be amazed if they don't rent it out. They wouldn't be the first royals to do so and if they're there 2 or 3 times a year as has been reported, it'd be empty most of the time anyway.
Yes, Viscount Linley and his wife rent out Chateau D'Autet in France.
Hopefully, despite my concerns regarding Sarah's ability to run through massive sums of money and tendency to become involved in questionable business scenarios, the rental income will offset the mortgage payments, staff salaries and upkeep.
  #1413  
Old 01-11-2015, 06:16 PM
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Yes, I know.

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Originally Posted by royal rob View Post
Your right but that was a headline

  #1414  
Old 01-11-2015, 11:50 PM
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A lot of the smaller businesses etc suffered greatly because of Sarah. I don't know how someone like her would be able to get any sort of loan with her history. Companies have gone bust, questions about salaries, nearly going bankrupt and paying back people a tiny amount if anything of what they are owed. But I'm sure she will get some of the rental income. It is still a lot of money for a second house used a couple of months a year. If anything goes wrong it will be yet even more headlines.
  #1415  
Old 01-13-2015, 04:57 AM
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Maybe the Queen bought it so she can ship Andrew and Fergie off there for good. One less trouble for her!
Only a joke 😂


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  #1416  
Old 01-15-2015, 07:19 PM
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Please remember that Sarah has her own current events and news thread: http://www.theroyalforums.com/forums...4-a-36224.html

This thread is for York Family news.
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  #1417  
Old 02-26-2015, 05:59 AM
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Princess Eugenie says mum Sarah, Duchess of York looked great on the catwalk | Daily Mail Online
  #1418  
Old 02-26-2015, 01:07 PM
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Princess Eugenie on mum Sarah Ferguson: 'I hope I look that good when I'm her age'-
Princess Eugenie praises her mother Sarah Ferguson - hellomagazine.com
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  #1419  
Old 03-24-2015, 01:18 AM
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  #1420  
Old 06-19-2015, 10:56 PM
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Richard Palmer ‏@RoyalReporter 4h4 hours ago
It looked like the Yorks had a good day out at Ascot but there was precious little sign of Fergie being back in the royal fold.
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