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Wednesday, 23 March 2011

Millionaire gangster Paul Ferris is being chased by sheriff officers - after being sued over a s700 debt.

23:36 |

Millionaire gangster Paul Ferris is being chased by sheriff officers - after being sued over a s700 debt.
Ferris, 47, failed to pay factor's fees on a luxury waterside pad.
Now a court has ordered he must pay the full amount plus expenses. If he doesn't, he could have sheriff officers turning up at his door.
A source said: "It's unlikely such a relatively small sum will come to bankruptcy, although even a court case such as this could affect his credit rating.
"This could pose problems if, for example, he wants to get a mortgage or a loan for a car.
"But Mr Ferris is probably more of a 'cash payer' anyway, so that shouldn't be much of a problem."
Ferris failed to pay instalments due as factor's fees at his waterfront pad at Mariner's View in Ardrossan, Ayrshire, that he bought for s110,000 in 2005.
A decree was passed at Kilmarnock Sheriff Court's civil court department on March 11 over the case, rendering Ferris liable for the debt.
The order relates to payments from last year totalling s714.80 due to Glasgow factors Hacking and Paterson Property Management.
The firm have hundreds of flats across central Scotland. They are being represented in the case by Glasgow solicitors Hardy Macphail.
Ferris did not contest the case and a decree was passed meaning he is now liable for the whole sum plus expenses, which, it's estimated, will take the total owed to more than s1000.

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