Art Law Report

In Vino Veritas—Second Circuit Upholds Damages in Counterfeit Wine Koch Brother Case With Implications for Art Sales

Posted by Nicholas O'Donnell on October 1, 2015 at 1:24 PM

Koch brothers David and William are as well known for their art patronage as certain parts of the family are for political activity, and a decision yesterday by the Second Circuit involving William Koch could extend that influence. While the case concerned two dozen bottles of allegedly counterfeit wine, the implications on terms of sale and disclaimers will be felt in sales of fine art in New York as well.

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Topics: David Koch, Château Lafite Rothschild, Auctions, Eric Greenberg, Second Circuit, authentication, Zachys Wine & Liquor Auctions, wine, Pétrus, In Vino Veritas, Koch brothers, Zachys Wine & Liquor Stores, Bordeaux, New York General Business Law § 349, Chateau Latour, punitive damages, fraud, New York General Business Law § 350, William Koch, Uniform Commercial Code, U.C.C.

Finance, Art and Law—How Does Fine Art Shape Up as an Asset?

Posted by Nicholas O'Donnell on January 30, 2015 at 8:48 AM

The Art Law Foundation in Geneva (Fondation pour le droit de l’art), together with the Banking Law Centre at the University of Geneva, hosted a sterling event on Monday in Geneva. This was the second part in a series spearheaded by the Foundation, the first day was held in London in November. While I was not able to attend the London event, it was very well received, and together with this week’s event it must be said that the organization is up to great things. Their events page (here) is something anyone interested should book mark. In particular, these events have showcased sophisticated insights into market-based aspects of art and law, which whether we like it or not is what is driving the discussion (and will continue to). A real hats off to the organizers, in particular Attorneys Sandrine Giroud of Lalive, and Pierre Gabus of Gabus Avocats, a director and president, respectively, of the Foundation.

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Topics: China, Pierre Gabus, Art Finance, Sotheby’s Financial Services, Fremdverwaltung, leverage, Xavier Oberson, Alexandre Quiquerez, Philip Hoffman, Frédéric Dawance, Art Business and Research Unit at Sotheby’s Instit, authenticity, Art Law Foundation, Swiss Collective Investment Schemes Act, The Art Newspaper, Geneva, artgenève, Fine Arts Expert Institute, Manuela de Kerchove, Sandrine Giroud, Lalive, Supervised Qualified Investors, Natural Le Coultre, Yan Walther, feeder funds, Jan Prasens, Abel Avocats, Farrer & Co LLP, Lombard Odier, Events, Tutela Capital, James Carleton, Sotheby's, U.C.C., Yves Bouvier, Schroders, Fabian Bocart, Fine Art Fund Group, Art Finance And Law Conference Series

New Lawsuit Over Norman Rockwell Authenticity Spotlights Timely Issues

Posted by Nicholas O'Donnell on January 7, 2015 at 12:10 PM

A lawsuit has been filed in New Jersey about the authenticity of a painting sold more than 20 years ago that the gallery allegedly represented was a Norman Rockwell (himself a client of my firm long before my time), but which the plaintiff now alleges was not by the American legend. The case underscores the precarious position of authenticators, and the upside of the bill that has been pending in New York for almost a year now.

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Topics: authentication, authenticity, “Mending his Ways”, Harold Anderson, Laurence Casper, Gallery 63 Antiques, Norman Rockwell, Mobil Oil, Galleries, Isabel Knispel, U.C.C., Barry Knispel, “Patching Pants”

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