Katie Price Faces Bankruptcy

Katy Price is attempting to swerve bankruptcy as she has been given twelve weeks to pay off her debts.

The famous ex-glamour model has been hit with a huge unpaid tax bill and is now struggling out of her financial predicament.

The Bankruptcy Case in Court

Katie’s Case was presented to Judge Barnett, the Deputy Insolvency and Companies Court Judge in the High Court on Tuesday morning.

Although Katie wasn’t present in the courtroom, her team of lawyers managed to save her from going bankrupt on this occasion. The judge has given her until 30 October to pay off her debt according to the payment plan her team presented in court.

She has been working very closely with her advisors to resolve this unpleasant situation. She sold horses and lamas and also the $77,000 worth Audi last month. She was pictured naked in Thailand, with her 29-year-old boyfriend Kris Boyson, in what The Sun later revealed was a paid bid in order to try to save herself from bankruptcy.

She is currently trying to sell her West Sussex country mansion, bought in 2014 with her ex. The mansion is worth $2 million but is burdened with thousands in debt. Price even failed to pay electricity and heating bills.

How the Fortune Melted

The 40-year-old former model and TV personality was once worth $45 million and has been battling bankruptcy for months after a few of her businesses went down and she got divorced from her third husband Kieran Hayler that cost her a fortune.

She has been one of the Britain’s biggest celebrities, living in spotlight for over 20 years. She started her career under the name Jordan as a 17-year-old model. She got famous for her extensive boob jobs and started a reality show in 2004, going under her real name now.

She even won the Celebrity Big Brother and dabbed in pop music. Being involved in fashion, modelling, writing, television, and perfumes she earned $45 million throughout her career. After her companies KP Boutique, KP Bling and Jordan Trading Limited flopped, her troubles began.

Katie tried everything possible to avoid bankruptcy but she is going to have to face the music now.


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