Katie Price dealt major financial blow by judge over bankruptcy dispute
Katie Price’s TikTok income is to be suspended amid her bankruptcy dispute, a judge has ruled, in the latest blow to the star as she prepares to face questions over her finances later this month
Katie Price has suffered a big blow after being told she will have her income from TikTok suspended as part of efforts to pay off money owed under her two bankruptcies.
The former glamour model was declared bankrupt in November 2019 and again in March this year, and is due to face questions over her finances in London later this month.
Now, she will have the cash made from the social media platform withheld, it has been decided. The star earns thousands every week from the app, boasting over 1.6million followers, but she won't be able to get her hands on the cash, it has been decided.
READ MORE: Love Island couple branded 'insensitive' over photo after Molly-Mae Hague and Tommy Fury split
READ MORE: Molly-Mae Hague's sister stops posting after confession that left fans concerned
In February, a judge at a specialist bankruptcy court ordered that the 46-year-old must pay 40 per cent of her monthly income from the adult entertainment website OnlyFans until February 2027.
Barristers for the trustee of her bankruptcies had previously asked for the order to be extended to cover TikTok, but lawyers for the platform said that while it did not oppose the move, it could not consent to it due to the mechanisms of how content creators are paid.
On Monday, Insolvency and Companies Court Judge Catherine Burton said it was “appropriate” to order the “suspension of further payments” to Price from the platform until a solution could be found.
Katie was not in attendance at the remote hearing and was not represented. In February, Judge Burton ordered Price to pay 40 per cent of her income from OnlyFans into a bank account chosen by the trustee to pay off her debts.
Barrister Darragh Connell, representing the trustee, told the court that the mum of five previously reached a voluntary agreement over her debts, but had failed to pay the agreed figures. In July, the order was extended to cover eight more companies from which Price gained income.
At that hearing, Mr Connell said there was a concern that “the sums of income being paid to the bankrupt will simply not be paid to the trustee”, and that 40 per cent remained a “reasonable sum” to be paid by Price.
On Monday, the barrister said that “while some progress has been made”, investigations were ongoing as to how TikTok could comply with the order, and instead asked the court for a hold to be put on Price’s two “wallets” through which she is paid money from the platform.
He added there was a “real concern” that there could be “potentially substantial sums flowing” to Price from TikTok which the trustee would not “be in a position to easily recover” without the suspension.
Lauren Kreamer, representing TikTok, previously said in written submissions that the platform had paid Price £84,000 for a three-month “agreement” in which she would “create e-commerce content for use by TikTok in its campaigns”, which had now ended.
She said that fee had been paid “along with a sum of £9,989.92 and for much smaller payments, ranging from £18.99 to £277.49”, which it was believed represented “commissions” generated by third parties making purchases through the platform.
On Monday, she told the court the company was “endeavouring to comply” with the order and that it was not attempting to be “obstructive or difficult” through the delay. She is due to appear in court on August 27 to face questions over her finances after being told she must attend with “no ifs or buts” by a judge earlier this month.
It follows her arrest at Heathrow Airport following a warrant being issued after she failed to attend an earlier court date.
Follow Mirror Celebs on TikTok , Snapchat , Instagram , Twitter , Facebook , YouTube and Threads .
Sign up to the Irish Mirror's daily newsletter here and get breaking news and top stories direct to your inbox.
Related
Share this page
Guest Posts by Easy Branches
