Basquiat Purchaser Fights To Keep Fraud Case Alive In UK

Law360, London (November 16, 2020, 8:43 PM GMT) -- An art investor urged a London judge Monday not to let a New York financier escape a fraud lawsuit over the sale price for a Jean-Michel Basquiat painting.

At the High Court hearing, Satfinance Investment Ltd. said a May judgment by Chief Master Matthew Marsh wrongly barred it from serving Manhattan-based Athena Art Finance Corp. out of jurisdiction with its lawsuit accusing London art dealer Inigo Philbrick of lying about the painting's price tag.

That decision set aside permission granted by another judge last November to allow Satfinance to rope the foreign defendant into the English litigation seeking to claim sole...

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