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Ivan's girl a safe bet for sound advice in business

THE next time former bookmaker Ivan Yates wants some business advice he can turn to his nearest and dearest.

His daughter Sarah received an honours degree in economics and finance at UCD yesterday.

Sarah is the second youngest of Ivan and Deirdre Yates's four children, and the former Newstalk presenter was able to leave his financial concerns to one side as he celebrated her achievement.

Yesterday was a day of personal triumph for Sarah Yates. She bounced back from an horrific gun-point mugging in Dublin in October last to finish her degree with honours.

It was also the first time back in Ireland for the former politician and businessman since he was declared bankrupt in Swansea in the UK last month.

Looking relaxed and proud, Ivan posed for pictures with his wife Deirdre and Sarah after the conferring ceremony.

The occasion provided a rare respite from the difficulties suffered by Mr Yates since the collapse of the Celtic Bookmakers chain of betting shops last year.

Mr Yates owes AIB up to €3.7m following the collapse, but the bank failed to have him declared bankrupt in Ireland last month. He was subsequently declared bankrupt in Wales under less-stringent UK insolvency rules.

He accused the bank of driving him out of the country in an interview following his bankruptcy. But earlier this week AIB issued a statement denying it has waged a vendetta against Mr Yates.

In both the UK and Ireland, the courts take everything a bankrupt person owns and sells the assets to repay their debts.

But by declaring himself bankrupt in the UK instead of Ireland, Mr Yates's debt to AIB will be written off by next August.

Mr Yates said at the weekend he had no plans to come back to Ireland to work.

Irish Independent