Isaac Allen, 52-year-old spouse of renowned chef Rachel Allen, has been officially declared bankrupt by the High Court following his admission of being incapable of settling an outstanding tax bill of €484,838. Mr Allen, who participated in managing restaurants and acted as manager for his wife and others, reported his monthly revenue to be €2,831 in his financial statement. He claimed to possess no assets of considerable value, aside from his half stake in a field located in Shanagarry, Co Cork, estimated at €112,500.
Mr Allen’s additional assets constitute a 2007 model Audi vehicle worth €5,500 and a bank balance of €500. Years ago, the couple parted with their residential property. He gives his official address, as documented in the High Court paperwork, as Shanagarry, Co Cork.
Belonging to the family that established the prestigious Ballymaloe Cookery School, he and his spouse each hold 50% of the shares in a company named Lehcar Ltd. The company hasn’t submitted any financial returns since 2018 and is marked for dissolution. The court documents place the shareholding at a null worth.
The Revenue Commissioners are noted as the sole creditor in Mr Allen’s financial statement. When submitting his bankruptcy petition to the High Court, Mr Allen revealed his occupation as a manager and affirmed that he tirelessly sought to negotiate arrangements with his creditors concerning his debts, which involved a consultation with personal insolvency expert John O’Callaghan based in South Mall, Cork. However, due to his income, a debt settlement plan was deemed unsuitable by Mr. O’Callaghan who suggested pursuing bankruptcy. The court has now approved this application.
Control of Mr Allen’s assets has transferred to the Official Assignee who might use them to partially reimburse the Revenue. Bankrupt individuals typically regain their financial status within a year.
Fern Allen, another notable member of the Allen family, and her spouse Eoin Little also encountered financial hardship in the past and consequently entered into separate personal insolvency plans.
Rachel Allen is a renowned culinary expert who often graces RTÉ and pens columns for the Sunday Independent. In the past, she has taken part in managing eateries. Her spouse, Isaac, was an encounter during her culinary training period at Ballymaloe located in Co Cork. The pair are parents to three offspring. Their son Joshua had a run-in with the law and was incarcerated for cocaine possession in previous years. Their second son, Lucca, has chosen a different path, carving a career as a professional car racer. Isaac Allen is the progeny of Darina Allen, a proficient chef and food author who also established the Ballymaloe Cookery School.