Elite New York branch sold

THE New York branch of model agency Elite Model Management has been sold to a little-known Florida property developer for $7.8m (£4.4m) in a New York bankruptcy court auction.

Elite entered Chapter 11 bankruptcy protection proceedings in the US after two lawsuits.

According to the New York Post, Miami-based Eddie Trump - no relation to billionaire Donald - outbid financier Jeffrey Epstein and ID Models boss Paolo Zampolli.

The sale does not affect the parent company in Switzerland or affiliated branches worldwide.

Elite, which was founded by John Casablancas in 1971, was credited with creating the supermodel cult of the 1980s when it represented Claudia Schiffer, Naomi Campbell, Cindy Crawford and Linda Evangelista.

A BBC documentary subsequently revealed that under-age models at the agency were exposed to sex and drugs.

Supermodel Gisele Bundchen later defected to a rival agency but it was the legal actions, brought by a group of former models and a employees, that led the agency to seek protection against bankruptcy earlier this year.