Katie Price wins time to reach deal with creditors after brief financial hearing
A HIGH Court hearing over Katie Price’s finances has been adjourned for nearly three months to allow her to try and reach an agreement with creditors.
A judge at the Rolls Building in central London agreed to put off the hearing while the ex-glamour model, who was formerly known as Jordan, tries to resolve her financial arrangements with her creditors.
The 40-year-old did not appear for the hearing yesterday, which lasted less than two minutes.
Price has been married three times and has recently been in the headlines over the collapse of her latest marriage to Kieran Hayler.
The former I’m A Celebrity... Get Me Out Of Here! star was once said to be worth more than £40m. A representative for the reality TV star said: “Katie is aware of the hearing and is working with her advisers to resolve her current financial issues.
“She hopes to be in a position to do so and reach agreement with her creditors.”
Judge Barnett, who was sitting in a specialist insolvency and companies court, was told that Price and her creditors had agreed to an adjournment of the case to allow time for the consideration of an Individual Voluntary Agreement (IVA).
An IVA is a formal agreement which lets people with debt repay their creditors at an affordable rate, in a bid to avoid bankruptcy.
The judge yesterday agreed to adjourn the court case until October 30.