Fashion Nova founder and CEO Richard Saghian will now own this beautiful massive 105, 000-square-foot Los Angeles estate.
A bankruptcy judge on Monday accepted his $141 million agreement for “The One,” a 21-bedroom Bel-Air mansion that had hoped to sell for $500 million, but ended up with more than $250 million in debt.
Despite fears that the final price would not be sufficient to satisfy creditors, Judge Deborah Saltzman of the United States Bankruptcy Court concluded that the March 3 no-reserve auction should continue.
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