One of Scotland’s most prominent businessmen has been made bankrupt by his own nephew over a £400,000 debt. Bookmaker Billy King Jr took his retired 82-year-old uncle Hugh King to court after lending him the money more than three years ago.
The King family has business interests across the country –spanning gambling, pubs, clubs, property and finance. When Hugh failed to pay back by an agreed deadline, the younger businessman won an action to sequestrate his relative.
An insolvency firm has now been appointed with the power to seize assets to pay off the debt, including Hugh’s 125-year-old B-listed, two-storey villa in Whitecraigs, in the outskirts of Glasgow.
