The Scottish millionaire Paul Ferris, known in central Scotland as a gangster, is reportedly being sued for debt problems in relation to a property he owns.

The Scottish millionaire Paul Ferris, known in central Scotland as a gangster, is reportedly being sued for debt problems in relation to a property he owns.

Ferris, 47, racked up the debt after failing to pay instalments of factor’s fees on his luxurious waterfront property at Mariner’s View in Ayrshire. He was ordered by a court to resolve his debt management issues, and could face action from sheriff officers if he fails to comply and repay the full amount owed plus expenses.

Explaining the situation, a source was quoted saying:

“It’s unlikely such a relatively small sum will come to bankruptcy, although even a court case such as this could affect his credit rating.

“This could pose problems if, for example, he wants to get a mortgage or a loan for a car.

“But Mr Ferris is probably more of a ‘cash payer’ anyway, so that shouldn’t be much of a problem.”

Ferris has not contested that he is liable for the debt, which is believed to exceed £1,000, but has not yet repaid what he owes. The paperwork for Mr Ferris’ case is reported to have been passed to Glasgow sheriff officers.

Ferris is known in Scotland for being the enforcer for Glasgow “Godfather” Arthur Thompson; ironically, his first undertaking for Thompson was as a debt collector. He has served numerous jail sentences, his latest ending in 2002. At this time, he announced he was quitting his life of crime.