Katie Price may actually have to face the music because skipping her bankruptcy hearing doesn’t seem to be doing wonders!
As the reality TV star’s court schedule grows more pressing, the possibility of her beloved mansion being put on the market hangs in the balance. The celebrity-owned home, bought for £1.3 million almost a decade ago, was recently valued at £2 million.
Katie Price’s Mansion Is On The Chopping Block Ahead Of Bankruptcy Hearing
The former glamor model faces a crucial moment on Thursday as she is required to reveal details of her finances before a judge in London during her trial. follow SunCourt officials have confirmed that the 45-year-old will be called to testify.
Price’s creditors, including two lenders with claims on his property, are demanding the funds they are owed. The trustee overseeing the English model bankruptcy has the power to sell the Mucky Mansion to settle its debts, if necessary.
Instagram | Katie Price
Legal notices have also been affixed to properties in Sussex, prohibiting the businessman from selling the residence freely. The writer is now tasked with presenting his case to the court, showing either a plan to deal with a £2.3 million debt or establishing the important role of home in his work.
As fans may know, the sprawling estate serves as the backdrop for much of her OnlyFans content, and it has featured prominently in her Channel 4 reality series, “Katie Price’s Mucky Mansion.”
In a hearing earlier this year at a specialist insolvency and company court in London, Katie was neither present nor represented. The court also learned that public scrutiny of his finances had previously been postponed.
However, the trustee went ahead with the relisting inquiry when he breached the payment agreement, as lawyer Darragh Connell pointed out. He told the court, “We are now at a stage where this matter needs to be dealt with urgently.”
Judge Paul Greenwood then announced that the trial, where Price will face questions about his finances, would be scheduled for the earliest available date after July 21.
The judge stated that it was necessary to schedule the examination one day “as soon as the court can accommodate.” The Clerk of the Insolvency and Companies Court also informed that the “next hearing date in the above matter” is 14 September 2023.
Despite the impending loss of his home, the designer doesn’t seem to care too much. During a TikTok live session, the former Page 3 model candidly answered questions from her followers, especially about her finances and the infamous Mucky Mansion.
Instagram | Katie Price
Price insists he is “not broke,” adding, “I live in my own £2.2m house, I own it, nobody can take it from me. I wouldn’t call it broke, would I?” Then, he repeated, “I’m not really poor, on the contrary, but thank you.”
‘Signed By Katie Price’ Star Avoids Fifth Bankruptcy Hearing
In April, The Blast reported that even after agreeing to pay £12,000 a month to his creditors, the “Hell’s Kitchen” guest presenter did not abide by the arrangement. In fact, those who owe money claim that he failed to fulfill his obligations.
In addition, the mother of five children is also accused of avoiding court hearings. In case you missed it, the Price mansion faces a repossession order in 2021 due to its half a million pound debt, which is why the above payment arrangement was made.
“I’m a Celebrity…Get Me Out of Here!” star refused to address questions about his £3.2million mortgage debt, most of which is owed to lenders for the mortgage tied to his famous Mucky Mansion in West Sussex.
Originally scheduled for February, he is expected to make a personal appearance at a London bankruptcy court on April 12. This trial has been rescheduled from February, as he previously used the same tactics in November 2021.
According to reports, he is expected to face questioning about his various sources of income and outline his strategy to settle creditors. The “Dream Team” guest star had to reveal his earnings details, including his Depop page.
The bankruptcy trustee is also seeking to secure his income from television work, including his Channel 4 series.
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Source: thtrangdai.edu.vn/en/
