In the latest Katie Price news, the model and mum of five has reportedly had a six-figure sum wiped off her debts.
Bankrupt Katie is said to have avoided paying back almost £370,000 of her alleged debt.
The news comes after claims her Jordan Trading Ltd officially folded this week.
Katie Price news: ‘Company folds and takes £370k debt with it’
According to The Sun, Katie has allegedly avoided having to pay back a six-figure sum she owed to creditors.
Jordan Trading Ltd is reported to have folded this week, leaving hundreds of thousands of pounds worth of debt in its wake.
However, it’s now claimed that liquidators had no choice but to give up trying to claw it back.
According to the report, joint liquidator Simon Thomas stated ahead of the closure of the business that there was no chance of recouping all of the debt.
It’s claimed the company owes £192k in tax and £25k to creditors – it’s claimed the latter face a lengthy legal battle to try and reclaim their part of the debt.
Katie is also said to have taken £152k in director’s loans.
Thomas is said to have complained about Katie’s “non-compliance” and claimed the model is around £3m in debt.
It’s feared she may lose her so-called ‘Mucky Mansion’ to pay for her legal fees.
A spokesperson for Katie has been contacted for comment.
Katie’s money troubles
The model was declared bankrupt back in November 2019.
Katie was pursued by the taxman and creditors after reportedly spending her whole £45m fortune, according to MailOnline.
There was a plan in place for Katie to pay her creditors £12,000 a month, but she is said to have failed to stick to the agreement’s terms.
Last summer her fiancé Carl Woods hit back at negativity surrounding her financial issues as they jetted off to Portugal.
Katie attended a bankruptcy hearing last summer via video call from her Caribbean holiday, and she also jetted off in first class on a trip with son Harvey.
Harvey’s weight battle
Katie may have other things on her mind, though, after admitting that eldest son Harvey was suffering from a life-threatening condition.
The model revealed in an Instagram post that Harvey’s weight problems had become so severe the issue was now “life-threatening”.
She said: “I’m so proud of Harvey. He has lost a stone now and his college are doing amazing trying to keep him active and healthy eating. It’s now become life-threatening with his weight.”
Katie also revealed that she had been suffering from health issues of her own after two horror accidents.
Taking to social media, she revealed that she had fallen off her horse twice, leaving her with nasty bruises.
Read more: Katie Price claims her exes are her ‘triggers’ as she admits suicide attempts
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