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Lawyers hoping to overturn real estate rule change

Lawyers acting for the owners of a multi-million dollar Tucker?s Town home will begin their court fight next week in a bid to overturn Government?s rule change which bars houses being sold to foreigners.

The regulations were changed in February stipulating even high-end properties cannot be sold to non-Bermudians unless a non-Bermudian is the seller. A similar regulation governing cheaper houses has been in operation for years.

Saul Froomkin (pictured), who is representing home owner Allan Marshall, said a string of wealthy people had expressed interest in the 19-bedroom property however he would not comment on reports that TV host Oprah Winfrey wanted the property, valued at around $40 million. Mr. Froomkin said a Supreme Court chambers hearing might just be the start of a lengthy legal battle

He said: ?My client has indicated he is prepared to go all the way to the Privy Council.?

February?s rule change sparked a storm of protest with realtors saying it left Bermudian house sellers at a disadvantage compared to their foreign neighbours.

However an attempted legal challenge by lawyer Mark Diel stalled in the summer due to lack of interest.