Art Investment

The court of Monaco has closed the case of collector Dmitry Rybolovlev against the Swiss dealer Yves Bouvier

A challenge is the very wording of the court ruling can affect the outcome of the remaining lawsuits, the proceedings of which still is in the courts of Switzerland.

History, we will remind, began in 2015, when Russian billionaire has accused your dealer of cheating and misappropriation of nearly $1 billion, which Bouvier has received, having sold Rybolovlev 38 works of art at deliberately inflated prices. This number, for example, includes the famous "Savior of the world," Rybolovlev purchased for $128 million in 2013 and Bouvier purchased shortly before for $75-80 million.

the court's Decision, most likely, is a direct consequence of the so-called "Monaco-гейта" when it was established that the representatives Rybolovlev bribed the former Minister of justice Philip Narmino ski trips, private trips by helicopter and other gifts to influence the court's decision. The corruption scandal also testified Rybolovlev close ties with senior police and justice Monaco and led to the resignations of the Minister of justice and some of his subordinates.

American courts investigation with the words "fraud" was terminated after sensational sales of "Savior of the world" for $450 million in 2017.

Bouvier and his representatives consider the decision of the court of Monaco as his landslide victory: "This win confirms what we said from the very beginning, namely, that the investigation was compromised and biased in favor of the Russian oligarch". However, the Rybolovlev stand his ground: "Bouvier should not rejoice too early...", — said the Paris Rybolovlev's lawyer Herve Temin Agency France-Presse. — the Decision can be reversed, and his case is still under investigation in Switzerland."

in Addition to Switzerland, judicial processes "against Rybolovlev Bouvier" is not finished in the USA, London and Paris.

Sources: artforum.com, news.artnet.com

Read on AI:
27 June 2019: "Sotbis" all-таки have to sue Rybolovlev, USA
on November 07, 2018: Dmitry Rybolovlev, detained in Monaco
October 03, 2018: Dmitry Rybolovlev wants to sue Sotheby's $380 000 000
29 may 2018: In new-Йорке discontinued the investigation against Yves Bouvier at the suit rybolovleva
11 Oct 2017: Leonardo billionaire Rybolovlev exhibited at Christie's
September 18, 2017: Rybolovlev with Bouvier was removed from the post of the Minister of justice of Monaco
March 01, 2017: Bloomberg calculates losses Rybolovlev from investment in the arts
February 13, 2017: Art-дилер Yves Bouvier told about the damages after claims Rybolovlev
22 Dec 2015: "Rybolovlev vs Bouvier" entered the top art-скандалов 2015


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