Round the world yachtswoman Tracy Edwards has been declared bankrupt.
Edwards was made an MBE in 1989
The 43-year-old, who was awarded an MBE for skippering the first all-women crew around the world, is now building a new life with her daughter in the Gulf.
In February, Ms Edwards said the debts she owed to sponsors made her life "a misery" and forced her to leave the UK.
The bankruptcy petition for £60,000 was brought by Gregory Browne, the former financial director of her company, Quest, who was dismissed last year.
The loan for her yacht and money owed to crew and promotions companies amounted to £6.3m.
However, it has been reported that Ms Edwards, who was brought up in Swansea, south Wales, has personal debts of £8m.
It is thought she could lose the farmhouse she shared with her five-year-old daughter and mother in Yattendon, near Reading, Berkshire.
Miss Edwards did not attend the 10-minute hearing at the London Bankruptcy Court and was not represented by lawyers.