11-02-2025
What we know as one of Katie Price's bankruptcies is dropped
Katie Price will have one of her two bankruptcies dropped.
Once thought to have a net worth of £40m thanks to her lucrative career, the former glamour model has been declared bankrupt for the second time in March last year over an unpaid tax bill of £761,994.05. The mum-of-five, 46, was first declared bankrupt in 2019 but this has now been dropped.
The news one of her two bankruptcies will be left was decided at a specialist bankruptcy court in London on Tuesday but the reality TV star was not in attendance. Former I'm a Celebrity star Price was due to be quizzed over her finances at a hearing known as a public examination.
While she wasn't in court, Price — who has been on several sun-soaked holidays despite her bankruptcy — was active on Instagram and she told her followers that her latest podcast The Katie Price Show was now available to stream. The news comes after the TV star — who is dating Married At First Sight UK star JJ Slater — performed at Butlin's over the weekend.
The automatic dropping of Price's first bankruptcy had been suspended, meaning she was still bound by its terms.
Insolvency and Companies Court Judge Sebastian Prentis lifted the suspension and it was backdated to December 7 last year, meaning the bankruptcy will now be dropped. Bankruptcy usually end after a year in England and Wales.
Barrister Darragh Connell, representing the trustee of Price's bankruptcies, said: "The public examination of the first bankruptcy can be formally concluded in open court."
The second bankruptcy over the unpaid tax bill of £761,994.05 will remain in place. A public examination into the bankruptcy was adjourned until April 8.
Mr Connell said: "As to the second bankruptcy, the trustee's position is that pursuant to information provided by Ms Price, the trustee has been undertaking inquiries with third parties. The outcome of those inquiries is not yet known."
He continued: "It may well transpire to be the case that an application is made to suspend discharge for a limited period, but that is not before the court today."
In February last year, Price was ordered to pay 40% of her monthly income from the adult entertainment website OnlyFans. This would help pay off her debts until February 2027. While her second bankruptcy remains in force, the TV star must continue to pay money from OnlyFans to the trustee. Price has previously sold a naked shower video for £53 on OnlyFans.
Celebrity photo news agency Backgrid — which supply exclusive photos of celebrities all over the world — was named in court last year as one of four companies that provide Price with income.
At an earlier bankruptcy hearing last year, a judge ruled that her income from social media platform TikTok was suspended while she continued to pay off her debt.
Price published her eighth autobiography This is Me: The High Life. The Dark Days. The FULL Story. in July last year.
As a reality star, she has often invited cameras into her life for fly-on-the-wall documentary series. This year, her vitro fertilisation (IVF) documentary Katie Price: Making Babies aired on Channel 4 that she had previously filmed with her ex partner Carl Woods who then hit out at the show when it was available to stream.
