U.K Declares Pastor Chris Oyakhilome’s Christ Embassy ‘Bankrupt’ The Charity Commission, the agency that regulates charity organisations in U.K, has declared a U.K branch of Christ Embassy, owned by Pastor Chris Oyakhilome as broke and insolvent. In the belated 2015 financial Statement of the church which was published in 2017, the church admitted that its subsidiary, Christ Embassy Limited, valued with a net asset of more than N1 billion (£2 million) entered into liquidation from November 1, 2016. The commission said a charity is considered as being insolvent, when it is “unable to pay its debts.” “In practice there are two separate tests for insolvency and failure of either might be an indication of insolvency: The charity cannot pay its debts as they fall due for payment; The val...