GLENN ARMSTRONG's FINANCES REVEALED
Glenn Armstrong has no money to pay bankruptcy
This website has obtained the financial information on Glenn Armstrong that he was fighting trying to keep hidden.
These records are derived from court records and financial accountants state that the records reveal "chronic losses and an individual drowning in debt", the accountant says.
The financial accountant stated "it is clear the figures and valuations are enormously inflated to try and hide the staggering losses ".
These official figures which show the reality of Glenn Armstrong not owning hundreds of properties but 35 properties which are heavily mortgaged and rely on Glenn Armstrong using wildly inflated valuations to boost the appearance of his portfolio, which is dwarfed by his liabilities.
These revelations comes a little over a month before the bankruptcy petition which saw his creditors make Glenn Armstrong bankrupt as the records indicated the amount claimed by creditors is now at £5 million and rising daily.
* The properties shaded in green are what Glenn Armstrong says he will sell first to release equity to attempt to pay off the creditors. However they are vastly overinflated.
This is what is calculated as "sales properties" in the calculation.
Still puts him millions in debt.
"Staggering Losses"
Glenn Armstrong's dire property financials are now here for you to see.
FINANCIAL ANALYSIS
Table showing confirmed figures relating to Glenn Armstrong.
INSOLVENT
Even with the most optomistic values placed on Glenn Armstrong's small cluster of properties. It was clearly NOT enough to pay the bankruptcy, let alone the other debts from company and personal county court judgments. In addition he racked up debts with a Novitas loan to pay his legal team and the Capital Gains Tax payable on any properties he could have sold but didn't.
On this table with evidenced figures and court records. Glenn Armstrong is insolvent to the value of £4'682'600.00.
This does not include what Glenn Armstrong is liable for at the end of the current investigation by HMRC.
So his constant rhetoric about when he gets the properties from his ex wife and the divorce settlement, he will have the ability to pay, is clearly and demonstrably an utter lie.
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