LIVERPOOL footballer John Arne Riise has been declared bankrupt.
The Norwegian defender will have to hand control of his assets to a trustee, after a Liverpool judge approved an application for a bankruptcy order against him.
It is understood Riise, 26, who was last month involved in a fracas with club teammate Craig Bellamy during a club break in Portugal, is planning to appeal the decision.
The star, who has a flat next door to Everton player Tim Cahill in affluent Calderstones, south Liverpool, is currently at the centre of one of the biggest fraud cases in football.
Riise is pursuing his former agent through the Norwegian courts for a reported £3m in what is proving a salutary lesson to Premiership players and the way in which they invest their fortunes.
He is claiming a total 37m kroner (£3.1m) from Einar Baardsen, the agent from whom he split in 2005, who is registered as a bankrupt in Norway.
It is understood Riise’s registration here as a bankrupt is entirely separate from that case, which is currently in the hands of administrators for Baardsen.
The Daily Post understands, however that the case does stem from a dispute arising out of Riise’s links to Mr Baardsen.
It is understood a lawyer who did some work for the agent is trying to recover his fee, believed to be less than £100,000, from Riise, who it is believed he thinks is responsible for paying the bill.
An application for bankruptcy was lodged with Liverpool County Court and the hearing went ahead on Wednesday, March 27.
Riise’s status as a bankrupt will last for 12 months.
It means during that time he must hand control of all his assets, including any property, to a trustee who is appointed to deal with the alleged debt.
The footballer may be stopped from doing anything with his assets, like selling his house or disposing of large investments, and cannot be the director of a company for a set time period.
But Riise’s representatives say it was only due to an oversight that the case ever reached court.
It is understood they are planning to apply for the decision to be overturned.
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