The prominent New South Wales criminal lawyer Charles Waterstreet has declared bankruptcy and faces losing his licence to practise.

He lodged the documents with the Australian Financial Security Authority on 13 March and is listed as an undischarged bankrupt, Fairfax Media reports.

Waterstreet had 28 days to explain to the NSW Bar Association why he should not lose his practising certificate, with the deadline expiring on Tuesday.

On Sunday he told Fairfax he would need an extended deadline.

The recent controversies surrounding Waterstreet, 68, include allegations of sexual harassment by a number of female paralegals, which he denies, and a case brought by the Australian Taxation Office, which says he owes $420,000.

Apart from high-profile criminal cases, Waterstreet is a theatre and film producer and is known as co-creator of the television series Rake, which is said to be loosely based on his life.

