Katie Price was yesterday spared the formal declaration of insolvency, after she was given 12 weeks to repay her debts.
The former glamour model who was once worth £45million failed to appear at the Rolls Building on Tuesday to find out if she would be declared bankrupt amid a growing financial debt.
She was given until the end of October to repay monies owed, being scheduled to appear back in court on 30 October to present an individual voluntary agreement (IVA).
However, according to Mark Sands, personal insolvency partner at Quantuma, the IVA will only be accepted if the majority of creditors are satisfied its a better deal than sending Katie …
Read the full article at: https://metro.co.uk/2018/08/08/happens-katie-price-formally-declared-bankrupt-7810101/