Katie Price Under Investigation For Her Lavish Lifestyle While Being $4.3 Million In Debt
Katie Price is now facing a probe into how she is able to fund her lavish lifestyle in spite of having $4.3 million debt. The bankruptcy trustees of Katie Price are now drawing up dossier of her entire deals recently ahead of the court meeting which will be held next month. There are sources claiming that she has apparently not determined to pay her creditors in full in spite of reportedly having enough funds which was reportedly still be around hundreds of thousands that she is earning from her TV deals and some brand tie ups.
It is now claimed that she has earned at least six figures of salary from her renovation show titled Mucky Mansion for Channel 4. The BBC has paid her for the series of documentaries which features her son, Harvey. She has also posted some brand endorsements which promotes beauty and bath products on her Instagram account as well as some of her KP Equestrian activities. The 43-year-old star also gets some income from her YouTube channel which believes to be a substantial amount when sum up.
The next court hearing which will be held on February 14 will tackle her luxurious activities despite having a massive amount of debt. A source of the trustees has claimed that they are casting their nets far and wide in order to assess how much is total amount of money coming into the hands of the former glamour model while she was supposed to be in debt. Katie Price who was once had a net worth of $60 million has filed for bankruptcy in 2019. There was an initial agreement where Price agreed to pay about $16,000 monthly to her creditors which will be done through an individual voluntary arrangement which Price failed to fulfill.
The court hearing was supposed to be held at the end of 2021 but was postponed for some reasons. The hearing will assess her efforts to pay back some amount of her $4.3 million debt. The total amount of debt was under her company, Jordan Trading Ltd that accumulated over the years. The said company was set up in April of 2003 for Katie Price to oversee the perfume and make up lines under the company. Moorfields which was the liquidating company for Jordan Trading Ltd stated in their report that last April, Katie had failed numerous times to attend to the trustees which made her discharge from the bankruptcy suspended.
Sources: Sussex Live UK, Mirror UK, The Argus UK
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