London Art Gallery Seeks Slice Of Basquiat Deal In Fraud Suit

Law360, London (June 29, 2020, 1:39 PM BST) -- An art gallery in London is seeking $2.75 million in damages from a New York art dealer charged with operating a $20 million fraud scheme, claiming it owns a slice of a painting by Jean-Michel Basquiat that is at the heart of an investor's lawsuit.

Delahunty, a fine art gallery in London's smart Mayfair district, said it bought a 12.5 percent stake in a painting by Basquiat titled Humidity from Inigo Philbrick, a New York art dealer who U.S. prosecutors allege defrauded investors by selling pieces of work he did not own.

The June 18 High Court filing marks the latest...

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