By Luke Furman
According to Herald Scotland, former two-division world champion Ricky Burns has gone bankrupt with debts of more than £400,000. Burns has declared himself insolvent this week after failing to settle large bills and said he had assets worth just £228.
Burns' debts are connected to massive bills which stem from his legal battle with former promoter Frank Warren. In 2013, Burns broke away from Warren and joined up with Eddie Hearn from Matchroom. Warren claimed he still had a valid contract and sued Burns. At a costs hearing in December, Burns was ordered to pay his own £200,000 legal fees and a further £170,000 by the end of January to pay Warren's damages and costs.
Burns applied for bankruptcy, claiming debts of £419,888, and his request was approved by the Accountant In Bankruptcy, Scotland's insolvency service, on Monday.
Burns returns to action on May 9th, when he travels to the United States to face Omar Figueroa in San Antonio, Texas.
Luke Furman covers boxing for bokser.org.
