News & Commentary

New York courts back Asserson clients on alleged art collection sale

Asserson has secured a resounding win for its clients in the New York federal courts, obtaining dismissal of claims against their clients for c.US$70 million.
The claims centred around the alleged sale of the world-renowned Torlonia Collection, the world’s largest privately owned Greek and Roman sculpture collection, which has been valued at more than US$1billion. The claims were brought by a New York art dealer who claimed to be owed a commission on the purported sale of the Collection to the Getty Museum in Los Angeles. Asserson’s clients, one of whom is a world leading numismatics expert and principal of the family-owned numismatics business, reside and work in England and Italy respectively. They allegedly acted as agents for the Torlonia family.
In a 35 page decision, the Southern District of New York Court dismissed all claims against Asserson’s clients based on a lack of jurisdiction – as well as taking the rare step of denying plaintiffs the right to amend or replead.
The Asserson team led by Disputes partner Yisroel Hiller argued that their clients’ businesses in New York and meetings about the Collection there were not sufficient to give the Court jurisdiction.
For further information please contact Yisroel Hiller or Richard Shore of the Asserson Dispute Resolution team.