Larry Gagosian responded yesterday to a lawsuit by client Ronald O Perelman over money lost in the exchange of 11 works valued at over $45 million, including an unfinished Jeff Koons sculpture, a Cy Twombly painting, and a sculpture by Richard Serra. In a series of papers filed this week in New York State Supreme Court, Gagosian claims that he had lost money in the transactions, and that Perelman’s claims were “frivolous.” (more…)

Images: Larry Gagosian via Phaidon and Ronald Perelman via Forbes

Larry Gagosian and Ronald Perelman filed lawsuits against each other last week in the New York State Supreme Court. The two have had a business relationship and friendship for over twenty years.  The following is a further detailed account of the two cases.

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