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Katie Price swerves bankruptcy court over million-pound debt again

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Katie Price swerves bankruptcy court over million-pound debt again
Katie Price swerves bankruptcy court over million-pound debt again

KATIE Price has dodged a hearing for a fourth time to answer questions on her bankruptcy.

Tomorrow's case has been ‘vacated’ and will now be heard on April 12.

Katie Price has swerved a fourth bankruptcy hearing eiqrtidzdidqhprw
Katie Price has swerved a fourth bankruptcy hearingCredit: Instagram
Much of the cash is owed to lenders for mortgages secured against her so-called ‘Mucky Mansion’ in Sussex, and recent photos showed 10 cars parked outside
Much of the cash is owed to lenders for mortgages secured against her so-called ‘Mucky Mansion’ in Sussex, and recent photos showed 10 cars parked outsideCredit: Click News and media
She's known for her love of pink cars
She's known for her love of pink carsCredit: Instagram
The star’s iconic £75,000 pink Range Rover was repossessed in 2019 as part of her bankruptcy battle
The star’s iconic £75,000 pink Range Rover was repossessed in 2019 as part of her bankruptcy battleCredit: AutoTrader

The glamour model, 44, will be asked to lay bare just how much cash she makes from stripping off online when she faces the music over her monster £3.2million debts.

She will appear in person at a bankruptcy court in London after avoiding being grilled since 2021.

But next month she will finally have to explain how she plans to pay off her creditors.

Spectacular New Year fireworks light up London sky as huge crowds celebrate across UK for first time in three yearsSpectacular New Year fireworks light up London sky as huge crowds celebrate across UK for first time in three years

It comes as Katie's fiancé Carl Woods confirmed that he’s living in her Mucky Mansion again.

The pair went their separate ways in November last year after cheating allegations but are now back together.

Much of the cash is owed to lenders for mortgages secured against her so-called ‘Mucky Mansion’ in Sussex.

Her home was at the centre of a council probe last year over cars being stored in her driveway, and new photos recently showed the mansion with 10 cars parked outside.

Officials at the local council launched an investigation into the 'alleged running of a second-hand car business' but the case was closed in March.

A second enforcement case was opened in October and it is 'pending consideration' - with enforcement action still to be decided.

Bankrupt Katie, 44, was warned selling cars on the property could land her a hefty fine.

Katie, who has jetted off on 14 luxury holidays in the last year, had agreed to a payment plan with creditors.

But it has been claimed by liquidators chasing cash through her numerous failed firms that she has not been sticking to the deal she struck.

Her bankruptcy trustees will want to find out details of how much she has been paid for her TV work, including her Channel 4 show where she attempted to renovate her £2m country mansion.

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And one of her main sources of income is her £12-a-month OnlyFans page where she posts raunchy photos and videos.

She also flogs her old clothes on Depop.

A source revealed: “The court will wish to know where every penny of her income comes from – whether it be from selling old clothes on Depop or stripping out of her clothes on OnlyFans.

“Only then can the court make up its mind about her ability to pay her debts.”

A court official confirmed: “I can confirm that the hearing on 9/2/23 has been vacated.”

Katie, who recently had her 16th boob job to get "the biggest breasts in Britain", avoided the court date for a third time last summer when she was to be quizzed about the money she owes.

The hearing at London’s Royal Courts of Justice was due to take place on June 7 after being postponed from February last year, and the first hearing of November 2021.

Earlier this month it was confirmed she has dodged paying most of a £234,000 tax bill after her failed firm was officially axed.

Her Jordan Trading Ltd outfit was struck from the register at Companies House and has now been dissolved.

'NOT THE END OF THE WORLD'

The move was made after liquidators gave up trying to prise any more money from the star and ended their work with the doomed firm.

A notice on the outfit’s page on the government register said the company had been “dissolved following liquidation”.

Katie, who said being bankrupt "isn't the end of the world" and is "just a word", has maintained she doesn’t have the cash to pay HMRC.

That’s despite the former model just undergoing another bout of plastic surgery.

A report into the company filed late last year revealed how she’ll pay just over 8p for every pound she owes the taxman.

Katie – who in total owes around £3m – received a bill for £234,470 from HMRC for Jordan Trading Ltd - that took in cash from her doomed perfume and cosmetics empire.

Liquidators said the taxman will get 8.19p in the pound and other trade creditors owed more than £33,000 won’t get a penny.

The firm went belly up in 2017.

MILLIONS OWED

Accountants liquidating Jordan Trading said in a previous report they had all but given up clawing back any cash from her against a loan she took out from the firm.

They said a £154,423 loan taken from the firm’s coffers by director Katie was unlikely to be paid back to help clear claims by creditors to Jordan Trading totalling £267,769.

A liquidator for London firm Moorfields said just £3,127 had been paid plus £16.80 in bank interest and they said in a report filed to Companies House: “I have been in correspondence with the Director’s Trustee in Bankruptcy to establish whether there maybe any future dividends paid to the Director’s creditors.

“The Director has failed on multiple occasions to attend on the Trustee and the Director has subsequently had their discharge suspended due to non-cooperation.

“We have been advised that creditors in the bankruptcy estate now total approximately £3.265m.

“As such, the company’s claim in the bankruptcy amounts to approximately 4.73% of the total creditors.

“Given that any realisation from the Director’s estate will likely be watered down with protracted legal issues the Trustee is facing dealing with the Director’s non-compliance, it is likely the overdrawn director’s loan account may no longer be economically viable to pursue.”

Ex-glamour model Price, once worth £45m, was declared bankrupt in 2019.

She planned to pay £12,000 a month to creditors through an individual voluntary arrangement.

However, it’s alleged she’s failed to keep to the agreement.

In 2021, the star was hit with a repossession order on her ‘Mucky Mansion’ after failing to pay a £500,000 debt.

She faces losing the house if she does not stump up the cash

But despite making an offer to buy another home in Surrey for £1.5m, she owes a total of £3.2m and has several notices on the deeds of her property lodged at the Land Registry.

That means the house cannot be sold without the proceeds being used to clear the outstanding debts.

Mum-of-five Katie saw her once-lucrative media empire fall apart after the end of her third marriage to Kieran Hayler and the collapse of her businesses.

She launched an OnlyFans account in a bid to make £1m last year, although has been forced to regularly slash the membership costs in a bid to recruit subscribers.

The glamour model is said to owe £3.2million
The glamour model is said to owe £3.2millionCredit: Instagram
It comes as Katie's fiancé Carl Woods confirmed that he’s living in her Mucky Mansion again
It comes as Katie's fiancé Carl Woods confirmed that he’s living in her Mucky Mansion againCredit: Rex

Stephen Moyes

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