Katie Price’s bankruptcy extended after she fails to pay back money in a year (Image: YouTube, Instagram)
Katie Price 's bankruptcy has been extended after she failed to fulfil the promises she'd made to her creditors.
Mirror Online has learned that the mum-of-five's bankruptcy will be extended until she can start paying back the money that she owes.
An update from the High Court of Justice says that Katie's bankruptcy order, which was made on November 26, last year, has been extended.
The status of 42-year-old Katie's insolvency case has been updated to "Discharge Suspended Indefinitely".
The website explains the status as: "Under the provisions of section 279(3) of the Insolvency Act 1986 the court may suspend the running of the period during which a person remains bankrupt on the application of the OR, if the court is satisfied that the bankrupt is failing to comply with his obligations under part IX of the Act."
Katie's bankruptcy is being extended
The update on Katie's case also states: "Order suspending bankrupt’s discharge under Section 279(3) of the Insolvency Act 1986 until the fulfilment of conditions as specified in the Order made by the Court and effective from 18 November 2020."
The government site explains: "Where a bankrupt is not complying with the requirements of bankruptcy legislation the official receiver (or trustee) may still apply to court for the running of his/her automatic discharge to be suspended. This means that the bankrupt will remain an undischarged bankrupt for a longer period of time."
A bankrupt person is usually under the order for 12 months, although it can last longer.
The update has Katie's last known address listed as what some have referred to as her 'Mucky Mansion' in Horsham, although she's been living in a rented house in Surrey since before the first coronavirus lockdown began.
Katie and Carl were in the Maldives when her hearing took place last month
Katie's representative said: "Katie has been fully compliant throughout the entire bankruptcy process. Her accountants have worked tirelessly to deliver everything that has been required to date."
Earlier this week, we revealed that Katie's boyfriend Carl Woods has used her name to launch a new company without her being involved.
A business named Priceywoods Ltd, a nod to the nickname she has given them, has been registered with Companies House.
Katie is not listed as being involved, something she is banned from doing under the terms of her bankruptcy.
A person who is bankrupt cannot be a limited company director until the court lifts their financial restrictions and discharges them from their debts.
Katie, pictured with daughter Princess, needs to pay back her creditors
(Image: Katie Price/Youtube)
The company, registered to an address in Hertfordshire on November 12, describes the nature of its business as "retail sale of clothing in specialised stores".
Carl, 31, is named as a director of the company, as is a Gary Stephen Woods, born in 1962, thought to be Carl's dad.
Last month, Katie remotely attended her bankruptcy hearing at London's The Rolls Building over Skype from her five-star holiday in the Maldives.
She denied having a lavish lifestyle and said that "90%" of her trips are for business and that the luxury Maldives trip she was on at that moment was a "work assignment".