A Detroit Judge has issued a decision preventing city creditors from removing art from the walls of the Detroit Institute of Arts for valuation outside the museum. “The record fails to justify this extraordinary relief,” stated Judge Steven Rhodes after hearing arguments.
A federal bankruptcy court judge has ruled that the Detroit Institute of Arts cannot be forced to undergo a full valuation of its collection, following pressure from city creditors for a second estimate. The collection, valued between $452 million and $866 million, seems to have some space to maneuver moving forward, especially given judge Steven W. Rhodes’s statement that he took quite seriously the opinion of Michigan Attorney General Bill Schuette’s when he said that the “art collection of the Detroit Institute of Arts is held by the City of Detroit in charitable trust for the people of Michigan, and no piece in the collection may thus be sold, conveyed, or transferred to satisfy city debts or obligations.”
A New York court has denied a motion to dismiss the case against Christopher Wool by studio Brand X, which is suing the artist over a series of unfinished prints he contracted through the studio. Wool had reportedly originally made a deal to collaborate on the series with Brand X in exchange for one third of the works from the series, but allegedly tried to renegotiate when he felt the works would be worth more than originally estimated. Wool has ceased work on the series “to get the deal he wishes he made rather than the one he did make” as court papers accuse. “No evidence has been heard in the case yet… In due course, the true facts will emerge and Mr Wool and Luhring Augustine Gallery will be vindicated,” says representing attorney Roger Netzer. (more…)
A court ruling by the New York State Supreme Court has maintained a seller’s ability to remain anonymous during the proceedings of an art auction, The New York Times reports. The ruling preserves the current state of auction dealings, and was a unanimous decision. (more…)
The New York State Supreme Court has ruled in favor of the The Metropolitan Museum of Art in the controversial case over the museum’s “Pay What You Want” pricing scheme, dismissing a substantial part of the case. Judge Shirley Werner Kornreich ruled on the decision, stating that the museum’s income is used to help fund education programs and other efforts. “For those without means, or those who do not wish to express their gratitude financially, a de minimis contribution of a penny is accepted,” the judge wrote. “Admission to the Met is de facto free for all.” Even with that ruling, the court will review the portion of the case stating that the museum misrepresents itself, leading visitors to believe that they must pay the full $25 price on museum signage. (more…)
