Phillip Schofield and presenting duo Ant and Dec are all taking legal action after a holiday resort where they had bought villas went bust. The Britain's Got Talent presenters had bought neighbouring properties in the Algarve and were reportedly holidaying there when a Portugese bank pulled the plug on The Keys development.
They are now fighting to get their money back – almost £2.5million each – along with £430,000 compensation apiece, after losing out on their lavish holiday villas which each boasted a rooftop swimming pool, cinema, bar and butler's kitchen.
© Photo: Getty ImagesAnt and Dec lost £2.5million each when The Keys development went bust
Ant and Dec are not the only high profile presenters to lose money; Phillip Schofield lost £1,399,334 when the company went bust, and has also instructed a lawyer to try to get his money back along with 500,000 euros in compensation.
STORY: Ant McPartlin moving away from Declan Donnelly for first time in decades
However, all three presenters are said to have been warned that their chances of recouping the money are slim, because state-owned Portugese bank Caixa Geral de Depositas is owed £250million and is said to be first in line to reclaim its debt after the Portugese taxman.
© Photo: Getty ImagesPhillip Schofield bought a holiday villa at the same resort
It was reported in 2015 that Ant and Dec had bought their neighbouring homes on the 72-villa development The Keys, based on the golf resort of Quinta do Lago, however the development was officially declared insolvent in May 2017. Phillip's holiday villa was located nearby and was said to have its own cathedral-height atrium and personal lift to a sky garden.
MORE: ITV reveal Ant and Dec's future following reports that Saturday Night Takeaway is cancelled
Phillip and his family regularly holiday in Portugal's Algarve over the summer, so buying property there would have been a no-brainer. The This Morning host was joined by his co-star and close friend Holly Willoughby and her family for a break in the summer, with stars including Coleen Rooney and Denise Van Outen all holidaying at the same resort within just weeks of each other.
Like this story? Sign up to our newsletter to get other stories like this delivered straight to your inbox.
