Katie Price has been accused of breaching an income payments agreement during a bankruptcy hearing at the Insolvency and Companies Court on Thursday. The 45-year-old former model did not attend the virtual hearing, nor was she represented by a lawyer.
Barrister Darragh Connell, representing the bankruptcy trustees, told the court that Ms Price had failed to comply with the payment agreement reached on 10 April. Judge Paul Greenwood acknowledged the breach, stating it was 'right and indeed inevitable' to order a one-day public examination of her finances, to be listed as soon as possible after 21 July.
The public examination will scrutinise Ms Price's sources of income, including her Channel 4 renovation show 'Mucky Mansion', her OnlyFans account, and online business ventures such as selling memorabilia and her equestrian range. The court will also examine her assets, including her West Sussex mansion, which is subject to a repossession order over a £500,000 debt.
Ms Price was declared bankrupt in 2019, owing an estimated £3.265 million, much of which is secured against her property. She previously agreed to pay £12,000 a month under an individual voluntary arrangement, but creditors claim she has not adhered to the terms. The hearing had been postponed five times since its original scheduling in June 2022.
In a recent TikTok Live, Ms Price defended her bankruptcy, saying: 'I'm bankrupt, yes, but I still own my £2.5 million house... Never knock someone who is bankrupt, we all can go there but it doesn't mean that it is all bad.' She attributed her financial troubles to mental health struggles and two individuals from her past.
