11.11.2010 Ocean rower and property-developer, Simon Chalk handed five year bankruptcy restriction following Insolvency Service investigation

13.11.2010  Bankruptcy order for ocean rower who admits 'I made mistakes'

30.11.2010  Chalk's 'blunder' claim over arrest warrant

01.12.2010  Chalk to be brought back before magistrates court

From Woodvale-challenge.com  20.11.2010

Simon Chalk - released from bankruptcy
A response to speculation about the nature of Simon's financial position ...

Over the past two years there has been a number of negative news stories in relation to my past business affairs and personal finances.

When the initial collapse of the banking industry took place there were various facilities in place for lending in relation to my construction business.  Just before the collapse of Northern Rock our lenders, contrary to their loan agreements, withdrew funding without notice.

I made a series of decisions in an attempt to save the construction business and to protect my company and family. It could not have been foreseen that the building industry and lending market would take such a negative fall. Once this spiral took effect I was powerless to change its course or retrieve the business from a negative position.

With the failure of my construction business, I was eventually declared bankrupt in December 2008. For the past two years there has been an in depth investigation to all the decisions that were made within the previous two years of trading as a sole trader.

On the 11th November I was released from bankruptcy but with certain restrictions in relation to holding the position of company director for a period of 5 years. In December 2008 I turned my complete focus into supporting and helping Woodvale Challenge Ltd to create safe and successful ocean rowing events.

Woodvale Challenge Ltd stands completely separate to my personal financial affairs. Within the period of my bankruptcy, the company has managed the successful conclusion of the Indian Ocean Rowing Race 2009 and the Atlantic Rowing Race 2009. Within the latter event, all 30 boats within the race successfully completed the Atlantic crossing – this is a first in the history of ocean rowing.

I have immensely enjoyed making a difference within the sport of ocean rowing, and although it is far from desirable that anyone should have a business that fails, the lessons of managing a failing business will be etched deeply and past mistakes will not be repeated.

The Woodvale group of companies involved in Ocean Rowing have gone from strength to strength in the past 3 years. Our Atlantic Rowing Race in December 2011 is shaping up to be one of the biggest rows in history and we are in final stages of preparation for our world record breaking Atlantic attempt in January 2011(The Allum Cup). Without doubt, 2011 will be an exciting year for ocean rowing, and will be followed by our inaugural Row Round Britain race in the Olympic year.

I am happy to answer any questions openly and honestly regarding my own personal finances. Please be assured that as a member of staff for Woodvale Challenge Ltd, my personal financial position will not affect the business in any way.


Simon Chalk