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Katie Price has been declared bankrupt for a second time over an unpaid tax bill of £761,994.05.
The former glamour model had not responded to HM Revenue & Customs (HMRC) over the debt, a court was told on Monday.
The demand for payment was made by HMRC last October.
Price – who was first declared bankrupt in 2019 over unpaid debts – did not attend the short hearing.
A court was told the bill “derives from self-assessments” for the years 2020-2021 and 2021-22 and includes income tax, VAT, surcharges and interest.
Insolvency and Companies Court Judge Sebastian Prentis told the hearing at London’s Rolls Building: “There has been no response from the debtor. The papers are in order.
“There is a substantial debt due from Ms Price to HMRC…
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Corporate insolvencies in England and Wales rose to their highest level since 1993 last year, according to official figures that lay bare the challenges facing companies amid slowing demand and high production costs.
There were 25,158 registered company insolvencies in 2023, up 13.7 per cent from the previous year — the highest number for 30 years, the Insolvency Service said on Tuesday.
The figures included 20,577 voluntary liquidations, 9 per cent higher than in 2022 and the highest number since the series began in 1960.
Corporate insolvencies are formal measures taken when a business can no longer pay its…
The world’s poorest countries are facing a growing debt crisis. The International Monetary Fund (IMF) reported last fall that more than half of low-income developing countries are in or at high risk of debt distress, and about one-fifth of emerging markets have sovereign bonds trading at distressed levels. Meanwhile, in many lower-middle-income countries, escalating debt vulnerabilities and overlapping crises—the Covid-19 pandemic, the war in Ukraine, and the increase in global interest rates and risk aversion—are forcing a growing number of countries to seek debt restructuring from external creditors.
St Hilliers director Tim Casey will make an offer to creditors – including subcontractors owed at least $7.1 million – to revive his cash-strapped contracting business and trade out of administration.
Mr Casey, who was working with administrators of the seven contracting companies – St Hilliers real estate development arm is not in administration – to try to keep 19 of their 21 live projects going, was working on a proposal, WLP Restructuring partner Glenn Livingstone said on Wednesday.
One of the last pillars of an award-winning Queensland chef’s hospitality empire has gone bust, just a month after seven other sister venues collapsed.
Cuisinier Australis Pty Ltd trading as Montrachet has called in administrators.
Montrachet is a well known fine-dining French restaurant in the Brisbane suburb of Bowen Hills.
The appointed administrators, Mark Holland, Jamie Harris and Anthony Connelly of restructuring firm McGrath Nicol, informed news.com.au of their appointment on Friday.
Montrachet continues to trade and administrators encourage interested parties to reach out to if they’re interesting in buying the eatery.
The restaurant had been in business for 20 years and was headed by award-winning chef Shannon Kellam.
Beleaguered online book retailer Booktopia has announced it has entered voluntary administration after it failed to secure funding.
The company posted it had appointed Keith Crawford, Matthew Caddy and Damien Pasfield from McGrathNicol to oversee a potential restructure or sale of the business.
“The Administrators are undertaking an urgent assessment of Booktopia’s business while options for its sale and/or recapitalisation are explored,” the statement released on the ASX reported.
“The shares of Booktopia Group Limited (Administrators appointed) will remain suspended from trading during the administration process. Shareholder updates will be uploaded to the ASX platform as required.”
Amy Jolliffe’s desperation at her ballooning HECS-HELP debt of $64,000, more than twice the average of $26,494, is emblematic of the growing helplessness felt by many graduates years after they’ve left university.
High inflation has meant the annual indexation — 7.1 per cent last year — is growing their debt faster than they can pay it off.
Government statistics on HECS-HELP debts show balances as large as Amy’s were once a statistical anomaly.
In the five financial years from 2006 through to 2010, government statistics recorded no debtors listed as having debts in the range of $60,000 to $70,000.
At this time, the highest HECS debts were in the $40,000 to $50,000 range and even these were relatively rare.
Model and TV presenter Katie Price has been declared bankrupt for the second time, a court heard today.
Price was married to Australian singer Peter Andre between 2005 and 2009 and they have two children together.
The UK glamour model, 45, who was not in court to hear her fate, has an unpaid tax bill worth more than £750,000 ($1.47 million).
She was previously declared bankrupt in November 2019, with debts of $6.21m.
Price did not even send a lawyer to the hearing, which is the latest in a long string regarding her financial woes, reported The Sun.
She now faces losing her $3.88 million home in Sussex, south of London, dubbed “Mucky Mansion” – or could see bailiffs come round to repossess anything that could help pay back the…
Victorian-based business Abacus Print and Display, trading as Abacus Visual, will be wound up following the appointment of a liquidator this week.
In a statement on its website, Abacus said: “We are authentic – no one likes a fake and they can spot them. Be true to yourself and who you are.”
According to company’s website, Clayton-based Abacus described itself as an unusual business that specialised in signage, print, design, wrap, and installation.
“We’re a different bunch of cats over here and we’re proud of it. If we were a box of chocolates, we’d be a bunch of variety mix. Not one appears the same, you need the pack to work out which is which.
Bruno Mars doesn’t owe millions in gambling debt to MGM Resorts — despite what a recent report claimed … TMZ has learned.
A rep for MGM Resorts International tells TMZ … the singer doesn’t have a $50 million gambling tab on the books with them — even though some recently alleged the opposite. Instead, MGM came to Bruno’s defense … calling the allegation he owes a massive sum completely false.
