At the auction, to be held on June 9, will be presented to 130 lots. It is expected that the auction will generate more than 2.5 million

Auction house Christie's exposes for sale are paintings and sculptures of the masters of the Renaissance and European artists of the XIX century from the collection of the gallery Salander-O'Reilly , owned by art dealer Lawrence Selenderu (Lawrence Salander) - the main defendants American "business Antiquaries» .

The auction, to be held on June 9, will be presented to 130 lots, including works atributiruemye Peter Paul Rubens (Peter Paul Rubens) and the workshop of El Greco (El Greco). It is expected that the auction will generate more than 2.5 million dollars.

The list includes lots of work that were not claimed by creditors of the gallery, as well as work requests which were granted by the court in cases of bankruptcy. All works are insured under the program title insurance works of art in New York City ARIS Title Insurance. It ensures buyers clear title and insures the risk of loss of property rights in a work of art.

According to court the United States Bankruptcy, 2.5 million dollars from the sale (net of tax debt gallery) would get the creditors who have not received care after the bankruptcy of Salander-O'Reilly in November 2007. The remaining funds (if any) will get the main creditor galleries - Bank First Republic, a part of the Corporation Bank of America, which in 2002 gave Salander-O'Reilly loans totaling $ 30 million.

In March Selender pleaded guilty to theft and fraud . May 20, he must appear before the court on the hearing concerning the payment of $ 120 million individuals and entities affected by its actions, as long as he remains free on bail of $ 1 million. According to Judge Michael Obusa (Michael Obus), Selenderu faces up to 18 years imprisonment.

material prepared Ekaterina Guseva, AI

Source: bloomberg.com , artinvestment.ru