Senator Rod Culleton has been declared bankrupt after a hearing in the Federal Court in Perth.
The verdict against Senator Culleton follows legal action brought against him by creditor and former Wesfarmers boss Dick Lester to have him declared bankrupt.
By law, a senator who is declared bankrupt is disqualified from serving in the Senate.
Senator Culleton reacted to the verdict by shouting at the judge, saying “I’m bleeding here”.
You just executed me your Honour, before I bleed to death.
“I’m going to call this matter to the Senate.”
Senator Culleton was elected in the July federal election while representing Pauline Hanson’s One Nation but he has since resigned from the party.
He has 21 days to appeal the decision to the full Federal Court.
More to come.