Sitting in Beausoleil but casting a shadow over Monaco, the very unfinished building just above Crémaillère is to sold at auction in Nice to cover a number of outstanding debts.

The site has been at the centre of several legal disputes for the past 40 years. In 2006 SCI Over Monte Carlo was issued a building permit for 316 apartments and 1,200 parking spaces. Gérard Spinelli’, the mayor of Beausoleil annulled the permit in April, 2020, due to the lack of construction activity.

The work that had been carried out amounted to only eight percent of the projected floor space.

Satri, a subsidiary of the Marzocco group, has brought the legal case on the basis of an unpaid invoice amounting to more than one million euros plus interest, “in order to have a chance to finally be paid for the studies and services carried out a long time ago and which have never been paid.”

Satri is not the only creditor. Other claimants, including a South Korean bank, have joined the action and are seeking a sum in the region of 100 million euros. The starting price is reported to be 10 million euros and the hearing starts at 09:00 at the Nice Administrative Court.

PHOTO: Jack Brodie