Since reports last month that a grand bargain had been struck to provide an infusion of cash to the Detroit bankruptcy in exchange for conveying the artwork at the Detroit Institute of Arts back to the museum itself, it has been largely accepted that the deal would succeed. The deal would contribute $366 million from… Continue Reading
Tag Archives: Christie’s
Resale Royalties Redux: the “American Royalties Too Act”
Posted in CopyrightAlthough there are no definitive signs yet of likely change, the question of secondary royalties for visual artists remains far from resolved. The most comprehensive effort to date, the California Resale Royalties Act was declared unconstitutional in 2012 by the U.S. District Court for the Central District of California, in lawsuit brought by Chuck Close… Continue Reading
Bankruptcy Court Denies Creditors’ Motion to Reappraise Detroit Institute of Arts Collection
Posted in Detroit BankruptcyAs we predicted when it was filed, Judge Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan denied today several creditors’ motion to appoint an independent commission to appraise the collection of the Detroit Institute of Arts (owned by the city of Detroit) as part of the city’s ongoing bankruptcy. The creditors’… Continue Reading
Foundations Pledge $330 Million to Keep Detroit Institute of Arts Collection Safe from Liquidation
Posted in Detroit BankruptcyDetroit Emergency Manager Kevyn Orr’s plan to monetize the collection of the Detroit Institute of Arts, whether by sale or otherwise, took a large step towards realization today when at least nine local and national foundations pledged up to $330 million to Detroit to keep the collection of the Detroit Institute of Arts safe from… Continue Reading
Hearing Set On Creditors’ Motion to Force an Appraisal Committee for the Detroit Institute of Arts Collection
Posted in Appraisal, Detroit BankruptcyFollowing on yesterday’s release of the full report and recommendations by Christie’s with regard to the collection of the Detroit Institute of Arts, the Bankruptcy Court has set a hearing on the creditors’ earlier motion to force appraisal of additional works of art. The creditors’ motion will be heard January 22, 2014 at 10:00 a.m.
Full Christie’s Report Issued on Detroit Institute of Arts Collection, City Holding the Cards to Push for Negotiated Grand Bargain
Posted in Appraisal, Detroit BankruptcyAfter Judge Rhodes of the Bankruptcy Court for the Eastern District of Michigan ruled on December 3, 2013 that the city of Detroit is eligible for Chapter 9 Bankruptcy protection, the city immediately divulged that the report commissioned by the city from Christie’s to appraise the Detroit Institute of Arts (DIA) collection was nearly finished. … Continue Reading
Detroit Bankruptcy Will Proceed, Judge’s Comments about Detroit Institute of Arts Could Affect Involvement or Sale of Artwork
Posted in Detroit BankruptcyThe Hon. Steven W. Rhodes of the U.S. District Court for the Eastern District of Michigan has ruled that Detroit may proceed with its Chapter 9 bankruptcy. Judge Rhodes explained his ruling for over an hour from the bench, finding Chapter 9 itself to be constitutional, and addressing other challenges including the requirements of Michigan… Continue Reading
Detroit Creditors Press Bankruptcy Court for Action on Sale of Detroit Institute of Arts Collection, Motion Likely Premature and Unfounded
Posted in Detroit BankruptcyMajor creditors of the city of Detroit filed a request in the bankruptcy proceeding to hasten the process of evaluating the value of the collection of the Detroit Institute of Arts. The motion raises a few questions, but fundamentally it is off-base: in a municipal bankruptcy the creditors are never going to be able to force… Continue Reading
IFAR to Host “Artists Resale Rights in the U.S.: Overdue or Shouldn’t Do?”
Posted in EventsThe International Foundation for Art Research (IFAR) will host on November 25, 2013 a panel entitled “Artists Resale Rights in the U.S.: Overdue or Shouldn’t Do?” As readers here know, the topic of artists’ resale royalty rights, or droit de suite, is an area of copyright law about disagreement is strong. Should artists receive a… Continue Reading
Detroit Emergency Manager Expects DIA Collection to Bring Revenue
Posted in Bankruptcy, Detroit BankruptcyAs the controversy around the possible sale of the Detroit Institute of Arts’ collection continues to swirl, Emergency Manager Kevyn Orr has given some of his most pointed comments to date about his expectations. To recap, the DIA collection is owned by the city of Detroit, now in bankruptcy. The question has thus arisen about… Continue Reading
City of Detroit Hires Christie’s to Appraise Detroit Institute of Arts Collection
Posted in Collections, Detroit Bankruptcy, MuseumsIn connection with the Detroit bankruptcy, auction house Christie’s announced on Monday that it has been hired to “assist and advise on how to realize value for the city while leaving the art in the city’s ownership.” According to the Christie’s press release, the auction house was hired by the City of Detroit itself, which has… Continue Reading
Lawsuit Against Sotheby’s for Nazi-tainted Art Sale Dismissed; Why it Was Filed in California at all Remains Unclear
Posted in Auctions, Collections, RestitutionA federal court in California has dismissed a claim by a buyer against Sotheby’s that alleged that the auction house sold him a work whose title was clouded because Hermann Göring had once owned it. What seemed liked a interesting new theory of liability was dismissed because the buyer had agreed in advance to litigate any… Continue Reading
Does Jenack Decision Really Require Disclosure of Seller’s Name? Yes, if the Buyer Won’t Pay
Posted in UncategorizedThe Jenack decision addressed recently at the Art Law Report has been the subject of intense comment and criticism since being widely reported. Donn Zaretsky’s roundup of the commentary raises an interesting and important question, with analysis from Jonathan Olsoff of Sotheby’s and Jo Laird, former general counsel at Christie’s. Namely, does the decision actually… Continue Reading
California Law Struck Down as Unconstitutional: U.S. District Court Dismisses California Resale Royalty Act Case against Sotheby’s, Christie’s, and eBay
Posted in Collections, Copyright, Intellectual Property, LegislationConsistent with expectations after reports from the court hearing in March, the U.S. District Court in Los Angeles dismissed the case brought by artist Chuck Close and others that alleged violations of the California Resale Royalty Act (the “CRRA”) by Sotheby’s, Christie’s and eBay, and ruled that the CRRA is unconstitutional in its entirety. Similar claims… Continue Reading
California Resale Royalty Act Case Against Sotheby’s, Christie’s, and eBay to Be Dismissed?
Posted in Collections, LegislationDonn Zaretsky at the Art Law Blog (whose prior commentary on the case gives excellent analysis of the Commerce Clause and other issues) reports that the U.S. District Court issued a tentative ruling at a hearing on Monday to dismiss the California Resale Royalty Act cases against Sotheby’s, Christie’s and eBay (Chuck Close is one of… Continue Reading
Federal Legislation Proposed for Artists’ Resale Royalties
Posted in Legislation, UncategorizedIn place of rumored legislative efforts last summer, legislation has been formally introduced to codify under U.S. federal law droite de suite rights of resale for artists, under certain circumstances. Apart from California—whose California Resale Royalty Act has been in the news recently for lawsuits against Christie’s, Sotheby’s and eBay—the United States generally affords artists… Continue Reading
Christie’s and Sotheby’s Sued over California Resale Rights
Posted in Collections, Intellectual Property, LegislationChristie’s and Sotheby’s were sued this week by several artists (including Chuck Close) as class action plaintiffs, alleging violations of California’s Resale Royalty Act. The Resale Royalty Act is one of the few statutes in the United States recognizing artists’ rights to some of the proceeds of the sale of their works, even after the… Continue Reading
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