One of Katie Price’s bankruptcy filings was halted as she appeared in court to settle her finances.
After being first declared bankrupt in 2019, she was scheduled to face questions about her finances this morning at a hearing known as a public examination. Although bankruptcy orders typically expire after a year in England and Wales, her first bankruptcy was automatically discharged, leaving her obligated to follow its terms.
Due to the backdated December 7th, 2013, the bankruptcy will now be discharged, which was reversed by Insolvency and Companies Court Judge Sebastian Prentis on Tuesday. Barrister Darragh Connell, representing the trustee of Price’s bankruptcies, said: “The public examination of the first bankruptcy can be formally concluded in open court”.
Katie was declared bankrupt in March of last year for an unpaid tax bill totaling more than £750,000, which still exists. A preliminary date for the public examination of that bankruptcy was April 8.
Despite having an estimated £45 million fortune once thanks to her modeling career, book deals, and television appearances, she has been declared bankrupt twice. Katie admitted that her habit of supporting ex-partners’ lavish lifestyles and legal expenses caused her first bankruptcy in 2019 with debts totaling £3.2 million.
Katie was declared bankrupt again in March 2024 as a result of an over £760,000 tax evasion. The former Page 3 model’s half-monthly earnings were voided by the High Court in order to pay her debts. Four companies were listed, including the adult-only subscription site OnlyFans, as well as a photographic agency, Backgrid. The four businesses are required to deduct 40% of Ms Price’s income each month for the next three years, according to Insolvency and Companies Court Judge Catherine Burton.
After skipping previous hearings, Katie was detained at Heathrow Airport over the summer in front of her disabled son Harvey. After she failed to appear for a hearing involving her bankruptcies, a judge issued an arrest warrant. She previously said she was “not running from matters”, but was “away working for a documentary on corrective surgeries” during the court hearing.
A judge gave her another court date for August 27 and warned: “You have to attend that date, no ifs or buts, no going abroad, no holidays”. “I will move my diary for it”, Katie replied. Before the bailiffs arrived, she was required to leave her £2 million Mucky Mansion on an eviction notice before the end of May. Katie was also instructed to hand over six cars including – a Volkswagen Beetle, a Nissan, two Range Rovers, Suzuki Vitara and Infiniti FX50 – on July 5.
In her August court appearing, the hearing was adjourned. Her lawyer, Bertie Beor-Roberts, said: “We are asking the court to adjourn the examination generally. The main goal is to allow Price to meet with the trustee in person, and then to maintain a constructive relationship.
Katie reaffirmed just last month that her financial troubles would soon be resolved with the filing of her second bankruptcy. The former Page 3 model spoke to her sister Sophie on her podcast, The Katie Price Show, and gushed: “There’s just nothing negative around me. The bankruptcy ends in March. Woo, woo! That bit ends, so I’m back on track”.
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Source: Mirror
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