Wednesday, May 06, 2009

Salander Bankruptcy Compromise

Bloomberg's Philip Boroff has the latest on the Salander bankruptcy: "Bank of America’s First Republic unit agreed to share proceeds from the sale of art with other creditors of the bankrupt Salander-O’Reilly Galleries LLC. The compromise was announced [Monday] in U.S. Bankruptcy Court in Manhattan. As a secured creditor, First Republic could have claimed the proceeds before others."