A Conservative MP made bankrupt after a judge in a specialist court heard he owed about £1.7 million, says he will keep doing his best for his constituents.
Judge Nicholas Briggs made a bankruptcy order against Adam Afriyie, who represents Windsor, at an online hearing in the Insolvency and Companies Court on Tuesday.
The judge was told Mr Afriyie owed about £1 million to HM Revenue & Customs (HMRC) and about £700,000 to Barclays.
Mr Afriyie, who says he will stand down at the next election, said after the hearing that proceedings had started after business failures.
"This has been ongoing for many years following business failures some time ago," he said in a statement to the PA news agency.
"I am ultimately responsible for some of the bank borrowing through personal guarantee.
"I've been trying to sell our home and downsize for some time, but it's a tough market.
"It is a stressful time and it'll be tough for a while, but I'm far from the only person in a difficult position, and I will continue to do my best to support my constituents until the next general election, when I'll be standing down."
In May, another judge approved a plan for Mr Afriyie to sell a property.
Mr Afriyie, who did not attend Tuesday's hearing, had written asking for more time to sell the property. He wanted proceedings adjourned until March and said he could pay off his debts in full if the property was sold.
Representatives of HMRC and Barclays had given the judge detail of how much was owed and opposed an adjournment.
Judge Briggs concluded: "There have been six hearings already of this matter so time really has run out. I shall make a bankruptcy order.
"It seems to me there is no evidence of there being any reasonable prospects of paying debts in full."
Barrister Fiona Whiteside, who represented Barclays, said the bank had "lost patience", and added: "We have seen no credible evidence that the property will be sold any time soon."
Mr Afriyie, who is aged in his 50s, was elected in 2005. But in July this year, the Windsor Conservative Association announced the long-serving MP is to stand down at the next general election.
Lars Swann, the Chairman of the WCA, said: "Since Adam was elected to Parliament in May 2005, he has unfailingly helped all those who live in the Windsor constituency area, both the residents and businesses.
"He has supported many charities and campaigns in his time as our MP and will be missed by many."
In his letter to the Chairman, he said: "It was a huge honour to have been selected and elected in the Windsor constituency, and to have gone on to build one of the highest majorities in the country.
"It was a double honour to have been elected as the first black Conservative Member of Parliament in 2005, and to have served as a shadow minister and as the Prime Minister's trade envoy to Ghana under successive governments.
"We have achieved a lot over the last 18 years but with Brexit concluded, the third runway in abeyance, local funding secure, and with our fourth leadership election underway, I feel that now is a good time for the Association to select someone new for the future, to represent our wonderful constituency under a new Prime Minister.
"In the meantime. I will continue to work hard for constituents until a new MP is returned to office at the next general election.
"I really want to thank the Association for their support for almost 20 years. It has been great to work with so many talented Conservative councillors, officers, activists and members, and I have truly valued the excellent working relationships and the friendships that have taken deep root. You have my assurance that I will support the Association throughout the selection process."
News of the bankruptcy proceedings emerged in late 2019.