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After a London Court declares Katie Price bankrupt, she sells off her engagement ring worth crores.
Picture Courtesy: Official Instagram Account/Katie Price
Katie was declared bankrupt in November after she failed to pay off thousands of pounds in debt despite warnings from her creditors. Katie, earlier known by pseudonym Jordan, is a media personality, model, and author. She was declared bankrupt after she blew her entire 45-million-pound (Rs 413 crore; USD 57 million) fortune over the years.
She didn't turn up in person or sent a lawyer to fight her case in court. In September, a bankruptcy charge was laid on her West Sussex mansion. At a hearing in October 2018, she was given time to negotiate a deal with taxmen over her finances and her proposal for an IVA was accepted on November 30, 2018.
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