£407m debtor Maxwell faces bankruptcy a SECOND time

KEVIN MAXWELL was declared the biggest personal bankrupt in British history in 1992, with debts of £406.5 million, after the collapse of his father Robert Maxwell’s Mirror Group media empire.

But the bankruptcy was lifted three years later and Kevin managed to forge a successful career in the property industry where he was involved in setting up major deals, including the sale of Earls Court Exhibition Centre and Olympia, and the purchase of Stables Market in London’s Camden Town.

This morning, however, the 57year- old businessman faces being declared bankrupt at the High Court in London for a second time, I can reveal.

Oxford graduate Maxwell could not be reached for comment yesterday, but this would be just the latest milestone in a chequered career.

Three years ago, he escaped bankruptcy with brother Ian over a joint loan debt. The case, over an unspecified sum, was dismissed after the court was told the parties had ‘agreed terms’.

That came after Kevin was banned from running a company for eight years in 2011 following an investigation by the Insolvency Service, which found that he and two other directors had diverted more than £2 million out of a construction company he ran, Syncro, shortly before it went into administration.

Kevin’s 1992 bankruptcy was the year after his former Labour MP father was found mysteriously drowned at the age of 68 after apparently falling from his yacht off the Tenerife coast.

Kevin and Ian, who had both sat on the board of Maxwell Communications Corporation, were investigated after the disgraced tycoon’s death over an alleged conspiracy to defraud the company’s pension fund, but both were cleared in 1996.

Ten years ago Kevin separated from his wife of 23 years, Pandora, with whom he lived in a manor house in Oxfordshire with their seven children.