The bankruptcy auction for one of the largest mansions in the United States was pushed back three weeks to allow more time to attract potential purchasers of the home, which has a $295 million asking price, Bloomberg News reported. Bankruptcy Judge Deborah J. Saltzman granted an extension of the auction for the Los Angeles home known as “The One” last week after a number of would-be buyers needed more time to visit the property, according to court papers filed Friday and attorney David Golubchik of Neale, Bender, Yoo & Golubchik, who is representing the property’s developer. The online bankruptcy auction is now scheduled for Feb. 28 to March 3, and the transaction’s closing, which is subject to court approval, is set for March 21. The no-reserve auction of “The One” was originally slated to occur the second week of February with a final closing date of Feb. 28. Creditors Yogi Securities Holdings and Inferno Investment Inc. filed objections to the plans earlier this month.
