Still squabbling over Villa Léopolda

Mikhail Prokhorov is reported to have launched his quest to buy the villa, set on a 2,700 sqm plot of land above Villefranche on the Côte d’Azur, in 2006. Owner Lily Safra, the widow of billionaire banker Edmond Safra, finally agreed to sell in the summer of 2008.

A “compromis de vente” (sale agreement) was signed in August 2008 and the usual 10% deposit paid, in this case the not inconsiderable sum of 39 million euros. Mrs Safra had gone to the expense of moving her art collection and dismissed the villa’s 27 staff when the Russian nickel magnate changed his mind.

Whether he was within his rights to withdraw is being contested in court in Nice, although a decision has been delayed until March 2010. CL