Although Monaco bought the eyesore plot just over the border in Beausoleil in July 2021, for a knockdown price of 67.5 million euros, a new legal challenge has been mounted by a major creditor of the vendor, SCI Over Monte Carlo.
Richard Marcus has brought a court case in Monaco claiming that as the debts of Over Monte Carlo at the time of the sale were far in excess of the selling price, at about 200 million euros, the sale – conducted through the offices of now-disgraced Palace accountant Claude Palmero – should be voided.
A court hearing in Monaco on April 5 may clarify the legal position, but it seems just as likely that litigation ping-pong may last for many more months to come.
