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Katie Price evades £250,000 in bills by handing just £21k to creditors after bankrupt star’s company officially went bankrupt
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Katie Price evaded £254,000 in bills by handing over just £21,000 to her creditors.
The former glamor model, 44, owed £234,000 in taxes and £20,000 in corporate creditors from her Jordan Trading Company.
But now accountants have finished liquidating the failed company and this week revealed they handed over 8 pence for every pound it owed to HMRC and its other creditors.
Finance: Katie Price evaded £254,000 in bills by handing over just £21,000 to her creditors
That’s despite the star just undergoing another bout of plastic surgery, flying to Thailand and a string of other vacations this year.
The company received a payment of £25,000 from the failed clothing firm Jigsaw group.
Katie – who owes around £3 million in total – received a £234,470 bill from HMRC for her failed company Jordan Trading Ltd – which took cash from her failed perfume and cosmetics empire
Difficult: The former glamor model, 44, owed £234,000 in taxes and £20,000 to corporate creditors from her Jordan Trading Company
In 2017, the company went bankrupt.
Accountants who liquidated Jordan Trading said they had given up trying to recover money from her against a loan she took from the company.
They said a loan of £154,423 taken by director Katie from the company’s coffers was unlikely to be repaid to help clear creditors’ claims to Jordan Trading totaling £267,769.
A liquidator from London firm Moorfields said in a report filed with Companies House: ‘I have corresponded with the Director’s Trustee in Bankruptcy to determine whether dividends may be paid to the Director’s creditors in the future.
Experts: But now accountants have finished liquidating the failed company and this week revealed they handed over 8 pence for every pound she owed to HMRC and the other creditors (pictured in her Mucky Mansion)
“The director failed to attend the trustee on several occasions and subsequently the director’s resignation was suspended for non-cooperation.
“We have been informed that creditors in the bankruptcy estate now total approximately £3.265 million.
The company’s claim in the bankruptcy therefore amounts to approximately 4.73% of the total creditors.
“Given that any realization of the director’s estate is likely to be watered down by long-standing legal difficulties the trustee faces in dealing with the director’s non-compliance, it is likely that the overdraft government loan account of the director is no longer economically viable to pursue.’
Interesting: that despite the star just undergoing another bout of plastic surgery and heading to Thailand and a series of other vacations this year (pictured)