Irving was declared bankrupt on Monday after failing to pay around £150,000 in costs arising from a failed libel action against Penguin Books in 2000.

Irving's debts are likely to amount to £3.5m after racking up huge legal fees during the case in which he sued Penguin and the author Deborah Lipstradt.

The book claimed Irving deliberately misinterpreted historical evidence to build evidence minimising Hitler's guilt for the Holocaust.

Irving's largest asset is likely to be his Mayfair flat which will be pursued to cover debts. Baker Tilly's Louise Brittain was the most likely candidate for trustee's job and is well-known in the small world of bankruptcy for her work handling the debts of disgraced former MP Neil Hamilton and former Tory minister Johnathan Aitkin.

The Aitkin case is understood to be nearing a close while efforts are being made to settle Hamilton's debts. Irving's case is expected to be 'straightforward' although it is anticipated it will be 'tough going'.