There are a number of entries in the Peerage and MP Ledger which indicate that bankruptcy proceedings were brought against various MPs and peers but that they were eventually dismissed. George Ivar Louis Mountbatten, the 4th Marquess of Milford Haven (born 6 June 1961) is a good example of this. The 4th Marquis is a descendant of Pushkin and Catherine the Great and is the Queen's cousin. His heir is Henry Mountbatten, Earl of Medina. Lord Milford Haven's ledger entry notes:
"Milford HavenNo 4639 of 1994Petition presented 13th May 1994 against George Milford Haven otherwise known as Lord Milford Haven or the Marquis of Milford Haven.Dismissed 12-12-94."
Picture Credit: http://images.drive.com.au/drive_images/Editorial/2007/04/23/22range_m_m.jpg