Fund Fights Blame For $10M 'Fake' Painting In Sotheby's Row

Law360, London (November 10, 2020, 4:31 PM GMT) -- An investment company urged a London appeals court on Tuesday to overturn a ruling that holds it equally liable with a British art dealer for an allegedly fake painting, arguing that it was not in a partnership for the $10.75 million sale by Sotheby's.

James Collins QC, counsel for Fairlight Art Ventures LLP, said the High Court had erred when it found his client had entered into a statutory partnership with fine art dealership Mark Weiss Ltd. and its owner. That decision put Fairlight partially on the hook for the money the auction house paid out to reimburse the buyer of a...

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