• Text size      
  • Send this article to a friend
  • Print this article

McRae's co-driver is bankrupted by widow

THE widow of former world rally champion Colin McRae had his former co-driver made bankrupt over a £450,000 debt.

Alison McRae took Colin Smith, a former close friend of the late rally ace, and his wife Irene, 48, to court after they failed to pay back cash she lent them.

Mrs McRae gave the Smiths money to invest in their property development business but it ran into severe financial difficulties.

The couple own a number of properties in Crossford, Lanarkshire, including Valley International Park and the Tillietudlem Inn, a bar and restaurant.

Their business C & N Properties Scotland went into administration in January with debts of more than £ 3.3 million. Mrs McRae, 45, of Lanark, is owed £451,504 by the company.

At a hearing at Lanark Sheriff Court she had the couple sequestrated over the outstanding debt.

The Smiths asked for more time to pay the money back, but their request was refused by Sheriff Nikola Stewart.

Contextual targeting label: 

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.