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Katie Price faces further bankruptcy proceedings after creditors return to court

UK News | Published:

She avoided bankruptcy last year after agreeing a debt repayment plan but faces renewed proceedings after failing to comply with the terms.

Katie Price

Katie Price faces further bankruptcy proceedings over her finances after her creditors returned to court.

The former glamour model avoided bankruptcy in December last year after agreeing a plan to pay back what she owes.

But, at a hearing in London on Monday, a judge gave the go-ahead for her to be served with another bankruptcy petition.

The 40-year-old, formerly known as Jordan, was once said to be worth more than £40 million.

At a hearing in October last year, she was given time to negotiate a deal with the taxman over her finances and her proposal for an Individual Voluntary Agreement (IVA) was accepted on November 30.

An IVA is a formal agreement which lets people with debt repay their creditors at an affordable rate in a bid to avoid bankruptcy.

However, she now faces renewed bankruptcy proceedings after allegedly failing to meet the terms of the agreement.

Judge Sally Barber, sitting at a specialist insolvency and companies court, said Price can be served with the petition by post, after lawyers representing her creditors said she had failed to attend an appointment to receive it in person.

The judge said the bankruptcy petition is due to be heard on November 26.

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