EastEnders - Mike Reid's death debt
Wednesday, 2 April 2008
Mike Reid died with debts of £900,000.
The former 'EastEnders' star - who suffered a fatal heart attack at the age of 67 last July - left a final estate valuing £0.00 after creditors took his entire fortune.
A family friend said: "Mike appears to have died potless, which is incredible. He never seemed to be short of money but I don't know what sort of debts he had. It seems his financial affairs took a lot of sorting out."
Reid - who played iconic character Frank Butcher in the BBC soap - was worth £881,381 upon his death according to an announcement in the High Court in Winchester on Monday (31.03.08), but all of it was used to settle unpaid bills.
A legal source explained: "When someone dies their assets are added up before their debts are deducted, with the taxman and VAT man first in the queue."
Another friend of the late actor claimed his widow Shirley is not suffering financially, insisting: "She is very comfortably off and living in their Spanish villa where she and Mike spent their last few years happily together."
Reid, who first shot to fame as a comedian in the early 70s, reportedly turned down many lucrative offers to return to 'EastEnders' prior to his death.
(C) BANG Media International
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