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Supermodel loses high court appeal over KSF funds

Fri, 04 Nov 2011

Elle Macpherson
Elle Macpherson

Supermodel Elle Macpherson has lost a high court appeal over funds held by collapsed bank Kauthing Singer and Friedlander Isle of Man.

When the bank went bust in 2008 it held over £2.5million of the model's money.

However, a company she set up to purchase a house in London owed £7.8million.

A judgment last year ordered the bank to offset Miss Macpherson's deposits against the amount owed by Light House Living.

Liquidators for KSF appealed against the decision, and the court ruled that mistakes were made by the Deemster in the original hearing.

Miss Macpherson, often referred to as the Body, must now repay the amount owed through her company with interest.

 

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