English media personality Katie Price has been declared bankrupt and on the edge of losing all her money by a court in London.
Sources suggest that the 41-year-old has lost all her wealth amounting to £45 million pounds in cash and also did not appear at court to justify her position. She decided not to appoint a lawyer and did not have anyone to represent her case.
Price has not been paying the promised monthly installment of £12,000 to her creditors and has a total debt of about £800,000 hanging over her head.
The Celebrity Big Brother winner is on the verge of having to forego her £2,000,000 mansion which constitutes 9 bedrooms, a 2 bedroom annex, 12 acres of land with a tennis court, stables and a large swimming pool. Rumors are circulating the Price has been trying to sell some of the animals at her place to recover from this situation.
Katie bought the house back in 2014 but now due to the high maintenance cost, it has been covered with trash and the pool is full of murky and smelly water.
Jude Jonathan who is presiding over the case has given his decision calling Price insolvent and bankrupt failing to stand before the jury and defend herself.