Partner Louise Brittain said the impending final settlement would split the proceeds of Aitken?s estate between creditors and the Aitken Children?s trust.
Brittain said the individual voluntary agreement would save the DTI £300,000 in bankruptcy costs.
Aitken would also keep a pension of about £50,000 per year, according to creditor the Guardian Newspapers.
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory