In what has been an exhausting legal battle, a Portuguese court has ruled that British TV stars Ant & Dec, and Phillip Schofield will lose over £8 million, and not get any compensation after putting down payments on properties situated on a new Algarve villa resort that went bust.
Ant and Dec, both 45, were buying next door homes and This Morning host Phillip, 59, was also buying a pad nearby at The Keys on Portugal’s Algarve. Latest court papers show Ant and Dec are owed £3.1 million each and Phil is £2 million down.
When developer Birchview went bust its luxury complex being built in Quinta do Lago was sold to Brazilian financial firm SRESPX. The company only agreed a deal if it didn’t have to pay off creditors.
Last week a Portuguese court refused an appeal to block the sale, meaning the telly trio will lose millions.
Judge Marta Rei said: “There is no basis to argue the nullity of the sale process.”
Lawyers for creditors, including the Portuguese Treasury and bank Caixa Geral de Depositos, who are owed £250 million, may now appeal to Lisbon’s top court.
A source close to the case said: “As things stand at the moment the investors who made down payments on holiday homes are still empty-handed. The courts have decided there was nothing untoward about the sale and that means Ant and Dec and Philip Schofield remain out of pocket."
Villas at The Keys complex are now overgrown with weeds and pools are full of green water and junk.
Read the original article at https://www.thesun.co.uk/tvandshowbiz/14772176/ant-and-dec-phillip-schofield-lose-8m-villa/