Katie Price declared bankrupt, forced to sell her engagement ring
Updated On: 05 December, 2019 07:00 AM IST | IANS
After a London Court declares Katie Price bankrupt, she sells off her engagement ring worth crores.
Picture Courtesy: Official Instagram Account/Katie Price
Katie Price declared bankrupt by a London court a few days ago, is said to have been forced to sell her 230,000-pound (Rs 2.15 crore) diamond engagement rings ex-husband Peter Andre gave her, a media report said.
A mother of five, Katie was given three engagement rings by singer Peter, with whom she has two kids -- Junior and Princess. The Mirror reported that the couple met on I'm A Celebrity in 2004 and married in 2005, only to separate four years later.
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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