Museum sues art insurer over Salander's steals
- March 11, 2010 17:35
The Philadelphia Museum of Art is suing AXA Art Insurance for not honoring a $1.5 million claim for two paintings consigned by the museum to a bankrupt New York art dealer. "The Harbor" by Maurice Prendergast and "Mountain Landscape" by Arthur B. Davies were given to Lawrence Salander, of Salander-O'Reilly Galleries, to sell in 2006.
Salander was charged with 100 counts of fraud last year, with damages estimated at more than $90 million. Reportedly, Salander sold the Prendergast alone for $1.5 million in 2007, but the museum never received the proceeds. The Davies is missing.
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