Naomi Campbell is not bankrupt. Phew. Photo: Getty Images

Looks like Naomi Campbell will have a Happy New Year after all.

Rumors that surfaced last week speculating that the supermodel would be filing for bankruptcy are "completely untrue," a spokeswoman for Campbell tells StyleList.

(Insert sigh of relief here.)

Global fashion newsletter JC Report had first Tweeted the Chapter 11 buzz, with fashion bloggers like Bryan Boy and Catwalk Queen soon picking up the story.

But though the catwalker, who was recently named to the British Fashion Council's Power List, has admitted to "litigation exhaustion," her bank account is doing just fine, her rep says.

Phew. So Naomi -- does that mean the bubbly's on you tonight?

Meanwhile, see what Campbell has to say about racism in the fashion industry.