Katie Price has one of her bankruptcies discharged but still faces showdown over unpaid £750k tax bill after being forced to sell her Mucky Mansion amid financial woes
Katie Price had one of her two bankruptcies discharged today following a hearing at a specialist court in London.
But the 46-year-old ex-glamour model still owes the taxman a staggering £750,000 after plunging into debt.
Price was was twice declared bankrupt - including in 2019 over her unpaid bills.
Her financial woes were so dire, the big-busted reality star was forced to flog off her £2million 'Mucky Mansion' for a fraction of the price to try and back into the black.
At a public examination hearing, the first of Price's bankruptcy orders was discharged.
Bankruptcy orders typically end after a year in England and Wales, but the automatic discharge of Price's first bankruptcy was suspended, meaning she was still bound by its terms.
However, the suspension was today lifted by Insolvency and Companies Court Judge Sebastian Prentis.
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.'
Katie Price is to have one of her two bankruptcies discharged following a hearing at a specialist court in London
Price was was twice declared bankrupt - including in 2019 over her unpaid debts
Price was served an eviction notice from her Mucky Mansion (pictured) after the reality TV star's financial woes deepened
Price - who did not attend the hearing - was also declared bankrupt last year over an unpaid tax bill worth more than £750,000, which remains in force.
She is set to be grilled in court over that bankruptcy on April 8.
The news is the latest chapter in the former beauty star's long-running financial battle, which has already seen her served an eviction notice from her 'Mucky Mansion'.
She purchased the property in 2014 from former Tory peer Francis Maude and it featured in a Channel Four series as she attempted to renovate the house.
But Price was evicted for not paying the mortgage in May last year and was forced to sell the rundown nine-bedroom home.
It was put on the market for £1.5million but was later sold for a fraction of the price, with a buyer snapping up the country pile for £1.15million.
Price didn't see a penny for the sale as it was swallowed up by the debts she previously ran up against the Sussex home.
She has since moved into a new four-bed property in Sussex.
But the 46-year-old ex-glamour model still owes the taxman a staggering £750,000.
Under the terms of her first bankruptcy, declared in November 2019 Price was ordered to pay 40 per cent of her monthly income from the adult entertainment website OnlyFans until February 2027 to help pay off her debts.
She was then declared bankrupt for a second time last March and must continue to pay money from OnlyFans to the trustee while the second bankruptcy remains in force.
Price was previously due to attend a public examination in August last year, but this was adjourned so she could attend a 'private interview' over her finances.
She had been told by a judge to attend the August hearing with 'no ifs, no buts', following a warrant being issued for her arrest last July after she failed to attend an earlier court date.
The court heard on Tuesday that the private interview took place on September 24 and that this had provided 'sufficient provision of information' to avoid the need for a public examination concerning her first bankruptcy.
A public examination related to the second 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.'
Over the weekend, Price was spotted performing at Butlins in Somerset.
Katie Price belted out a 90s classic as she took to the stage in a bejewelled jumpsuit at Butlins Minehead Resort, Somerset over the weekend
Katie Price belted out a 90s classic as she took to the stage in a bejewelled jumpsuit at Butlins Minehead Resort, Somerset over the weekend
The 46-year-old belted out a 90s classic as she took to the stage in a bejewelled jumpsuit at Butlins Minehead Resort.
Despite claiming 'she's not a singer' the ex-glamour model is currently performing as part of the seaside resort's Sunday Singalong sessions.
Her show, Katie Price's Big Banger's promises to have guests 'singing-a-long' to their favourite hits - but fans all had the same complaint.
Last month she jetted to Turkey to get several 'tweaks' to her sixth £10,000 facelift including getting new pinned back ears.
