Thursday, May 13, 2010

Salander News

Bloomberg's Philip Boroff reports that a group of works from the bankrupt Salander-O'Reilly Galleries will be sold at Christie's on June 9. The works are ones "that creditors haven’t claimed or for which claims have been resolved by [the] bankruptcy court" and each comes with title insurance supplied by ARIS Title. Under a settlement approved by the bankruptcy court in January, "unsecured creditors will receive the first $2.5 million from the sale, minus back taxes the gallery owed." Salander himself remains free on $1 million bail but faces up to 18 years in prison.