AA Files Motion to Sell London Townhouse
December 20, 2012
Today in bankruptcy court, AMR filed a motion to sell its infamous London townhouse. The sale price is over £14 million (or $23 million). As so many of us will recall, this property continued to receive a great deal of attention from the onset of AA’s bankruptcy last November, and some questions about it remain unanswered to this day. In particular, we cannot help but wonder why the Company waited so long to sell the 5,200 sq. ft. luxury home.
Today’s motion indicates that with each additional month the Company owns the property “the Debtors could be subject to unnecessary maintenance costs and other fees…” Of course, that did not prevent the Company from holding the property until July (conveniently following the Wimbledon Championships), when it was finally put on the market.