Most Read Contributor in United States, January 2017
In recent art world news, a painting recently sold by Sotheby's for £8.4 million ($10.6
million) has been determined a fake causing concern that more high
value forgeries exist in the art market. In 2011, an
anonymous buyer from the United States purchased the painting by
Dutch artist Frans Hals. Sotheby's took back the
painting after it was discovered by the auction house that the work
was connected to another alleged fake.
The scandal dates back to this past March when French officials
seized a 1531 painting entitled "Venus" by German artist
Lucas Cranach at an exhibition in France.
That work sold for £6 million in London, but is being
analyzed at the Louvre and is
believed to be a fake.
An in-depth technical analysis established that the Hals
painting was indeed a forgery. Sotheby's experts used
pigmentation tests to determine that the work was
"undoubtedly" a fake. Thereafter, Sotheby's
rescinded the sale and reimbursed the client in full for the
purchase of the fake work.
Concerns currently exist throughout the art market that there
are up to 25 other fakes in it. This could cost art investors
a staggering £200 million.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The Eleventh Circuit recently denied the Kim, Khloe, and Kourtney Kardashian's (the "Kardashians") motion to compel arbitration related to a trademark infringement lawsuit filed by upscale cosmetics company, By Lee Tillett ("Tillett").
Conan O'Brien is not joking around. The TBS comedian and late-night talk show host may have found the punchline to Alex Kaseberg's copyright infringement claim against O'Brien alleging that O'Brien stole five jokes Kaseberg originally published on Twitter in 2015.
n January 4, 2017, the Financial Crimes Enforcement Network (FinCEN) issued guidance
to the gaming industry on the sharing of suspicious activity reports (SARs), confirming that casinos may share SARs, or any information that may reveal the existence of a SAR, within certain portions of its corporate organization.
In December 2016, DeVry University agreed to pay $100 million to settle a lawsuit with the Federal Trade Commission (FTC) over allegations stemming from DeVry's advertising about the employment rates and salaries of its graduates.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).