‘The One’ Mansion Can Seek Higher Offers After $141 Million Bid

Fashion Nova founder Richard Saghian failed in his attempt to block the bankrupt owner of Los Angeles mega-mansion “The One” from continuing to solicit offers that exceed his $141 million bid.

A bankruptcy judge in California March 11 denied Saghian’s request to enforce sale procedures that would block property owner Crestlloyd LLC from receiving other offers after declaring him the winner earlier this month.

The ruling follows an emergency hearing in the U.S. Bankruptcy Court for the Central District of California during which various creditors—including mega-mansion developer Nile Niami—objected to Saghian’s request.

Saghian was declared the winner of an auction ...