Overseas property news - Luxury debts

Luxury debts

Chalva Tchigirinski, the Russian oligarch, has agreed to sell off properties and assets worth in the region of £237 million in order to repay outstanding debts to Sibir Energy...

Among the properties to be sold is a luxurious villa located in the south of France overlooking Monaco.

The French property, which features a private helipad and an Olympic-sized swimming pool, is valued at around £170 million, making it one of the most expensive homes in the world.

Shares in Sibir, once the most valuable company on London's junior AIM market, have been suspended since February when it was revealed that the company had controversially loaned £225 million to Tchigirinski.

Source: www.homesoverseas.co.uk/news

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