Katie Price’s avoids jail as £3.5m bankruptcy hearing cancelled last minute

Katie Price’s bankruptcy hearing over her £3.2million debt has been cancelled today.

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The star was declared bankrupt in 2019 and had previously agreed to pay her creditors in £12,000 monthly installments.

It was not known whether Katie would be arriving at the Royal Courts of Justice in London in person or appearing via video link.

However, the planned hearing in insolvency proceedings against the star has been vacated and will not be going ahead this morning. The judge at the the hearing has powers to jail Katie if they were shown evidence she has deliberately failed to pay creditors.

It comes after her hearing in February, during which the court heard the former glamour model had allegedly not been ‘engaging fully’ in paying back her creditors after her bankruptcy.

Katie agreed to setting up an individual voluntary arrangement, or IVA, in an attempt to take control of her finances and swerve bankruptcy – but one year on it became clear the plan hadn’t worked after she failed to make her monthly payments.

The star, who was at one point was worth over £45million, has been enjoying lavish holidays and cosmetic surgeries in recent months despite being bankrupt.

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