3 Year Legal Battle Over Stolen Max Ernst Sculpture is Settled
May 2, 2008
Max Ernst’s Gai Sculpture was stolen from a gallery in New York City in 1971. Identified in the Impressionist and Modern Art day sale at Sotheby’s London in 2005, the two dealers involved agreed to let the sale proceed and to fight over the proceeds. This they did. Litigation was commenced by the possessor in Italy who claimed it was purchased in good faith under Italian law. In 2008, the Italian court dismissed the case on jurisdictional grounds alleging that the matter should be heard in a court of competent jurisdiction in the U.K.
Before a case could be commenced in the U.K., Chris Marinello negotiated a settlement between the parties ending the three-year saga. The terms of this agreement are confidential.