Westlife Singer’s Devastating Bankruptcy!

WESTLIFE: SHANE FILAN

Westlife’s Shane Filan has beend declared bankrupt with debts of L18 Million.

How he lost his money? Is it true or is it just a rumor?

In the latest celebrity update, Westlife’s Shane Filan’s property kingdom in Ireland collapsed, with Kingston County Court in Surrey declaration this week that the Shane is bankrupt.

The 32 year old Shane is now touring with Westlife for the one last time and he has now debts of L18million.

“Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail. I have worked long and hard to try to reduce my debts, and I am devastated that it came to this conclusion. I now intend to focus on the remaining dates of the Westlife tour and my commitments to the band before looking to rebuild a future for my wife, my three children and myself,” he told ‘Mirror’.

WESTLIFE: NICK BYRNE, SHANE FILAN, MARK FEEHILY & KIAN EGAN

 In fact, Shane set up Shafin Developments with his brother Fnbarr and he also borrowed millions from Bank of Ireland and Ulster Bank to construct a 90-home estate in Dromahair, Co Leitrim.

It just 50 homes were built and many were sold for less than cost price.

However, Filan has sold his Aston Martin for just L322, 000 and it was said that he earn L4million from Westlife tour.

Meanwhile Shane will launch his solo career with the help of Louis Walsh after the Westlife’s farewell shows in Dublin next week.

WESTLIFE: SHANE FILAN
AND
MANAGER: LOUIS WALSH

“Shane is going to have a massive career after Westlife. He’s going to have a great solo career and make millions. He’ll start all over again and remake the riches in no time at all. He had no money when he started off before Westlife, and now he’ll make it all back when he becomes a massive star,” Louis Walsh said.