A Kensington mansion has become the capital’s latest luxury property to go up for sale in insolvency proceedings as wealthy London homeowners face their assets being liquidated to pay down debts.
The property on Queen’s Gate, near Hyde Park, is being sold by receivers for around $34m (£27m) alongside another house worth some $520,000 (£412,000) as part of bankruptcy proceedings, according to Bloomberg News.
Receivers are usually appointed by creditors to recover funds in default and prepare for the liquidation of assets.
The two homes were tied to more than $22m (£17.43m) worth of mortgages, Bloomberg reported, citing court filings.
The properties are reportedly registered to Emirati businessman Khalifa Bin Butti Omeir Al Muhairi,…
