Wednesday April 17, 2024

Financial blow for Katie Price as court orders significant deduction from OnlyFans income

Trustees pursue legal action against Katie Price for breach of debt settlement terms

By Web Desk
March 01, 2024
Bankruptcy woes continue for Katie Price in latest legal blow.
Bankruptcy woes continue for Katie Price in latest legal blow.

Former glamour model Katie Price faces a significant financial setback as a judge at the High Court ruled that nearly half of her monthly income from OnlyFans will be deducted. 

The 45-year-old, who was declared bankrupt in 2019 with debts amounting to £3.2 million from her failed company Jordan Trading Ltd, faced a court hearing in London.

During the proceedings, barrister Darragh Connell, representing the trustees, revealed that Katie had previously agreed to settle her debts voluntarily but had failed to meet the terms. 

The agreement stipulated 36 monthly payments of £12,500 along with a lump sum.

With Katie's failure to comply, the trustees sought an income payments order to redirect a portion of her earnings towards clearing her outstanding debts.

During a court session, Insolvency and Companies Court Judge Catherine Burton ruled that four companies, including OnlyFans and Backgrid, are obligated to deduct 40 percent of Price's income each month for the next 36 months. 

The deducted amount will be transferred to a bank account designated by the trustees overseeing her bankruptcy case. 

Fenix International Ltd, the parent company of OnlyFans, did not contest the order against Price.

Judge Barton further disclosed that Price will face additional inquiries regarding her financial affairs in April.