Roman Abramovich to Buy London Mansion for $98 Million

Russian billionaire Roman Abramovich has agreed to buy bankrupt boss Halis Toprak’s London mansion for $98 million.

Feb 2007

Halis Toprak, whose bank collapsed in 2001, owes the Savings Deposit Insurance Fund (TMSF) a total of $453 million. To clear the debt partly, had decided to sell his 30,000 sq. ft. home in London to Abramovich. With the sale now underway, 25 percent of the proceeds will be paid directly to the TMSF, with the rest going to other creditors.