Katie Price, who was declared bankrupt by a London court a few days ago, is reportedly selling her 230,000-pound (2.15 crore) diamond rings, given to her by her ex-husband Peter Andre, to pay her debts. Katie has two children with ex-husband Peter named Junior, 14, and Princess, 12. She is a mother of five children including Junior and Prince.
An eminent publication reported that Katie and Peter first met on I'm A Celebrity... Get Me Out of Here! in 2005 and tied a knot in 2005 itself until they got divorced in 2010. The three-time-divorced model and actor is planning to sell two out of the three rings that were gifted to her by Peter.
One of the sources stated that out of the three engagement rings gifted to her by Peter, Katie wants to keep the first one for her daughter Princess but is willing to sell the other two 'upgrades'. The source added that the first 'upgrade' is worth £150,000 (1.4 crores), while the second costs around £80,000 (75 lakhs), thus Katie is looking to get the same amount back.
Price was recently declared bankrupt in November after she failed to pay off her debt of thousands of pounds despite receiving warnings from her creditors. She was declared bankrupt after she blew her entire fortune over the years, which is estimated to be around 45 million pounds (Rs 413 crores)
If the reports are to be believed, she didn't turn up in person or sent her lawyer to fight the case in court. Hence, in September, a bankruptcy charge was laid on her West Sussex mansion.
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