(Bloomberg) -- The Myanmar military regime failed to sell a family mansion belonging to ousted leader Aung San Suu Kyi in the country's commercial capital.
A government representative announced that the Thursday auction for the colonial-styled home near Yangon's scenic Inya lake failed as no buyer showed up.
The auction was an attempt to settle a decadeslong dispute between Suu Kyi and her estranged elder brother Aung San Oo. He successfully petitioned the court in 2019 to sell the property — and for a share of the proceeds.
The 79-year-old Nobel laureate could spend the rest of her life in jail despite repeated calls for her release by the international community. Her allies, the shadow National Unity Government, has designated the mansion as a national heritage, prohibiting any form of selling and possession of the property.
No bidders showed up for the first auction in March, and the court reduced the floor price to 300 billion kyat from 315 billion kyat on Aung San Oo's request.
The mansion serves as a symbol of the Southeast Asian nation's struggle for democracy with Suu Kyi spending 15 years under house arrest there until her release in 2010. She frequently used the private residence to host world leaders, including former US President Barack Obama, after she was freed.
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