The Telegraph reports that Simon Ford is the founder of a "gift experience" company called Blue Banana. It prospered during the boom years but when creditors started to threaten him, Ford and his wife made the decision to take their two young children back to England.
Ford wrote an open letter to the city apologising for leaving behind his debts of between £100,000 and £200,000. He intends to pay his creditors back.
Dubai’s bankruptcy laws are strict and businesspeople who trade while insolvent could face years behind bars.
Global Crisis News says recovery in Dubai is a long way off.