The First Art Newspaper on the Net    Established in 1996 Wednesday, December 8, 2021


Russian billionaire loses Monaco battle with art dealer
In this file photo taken on March 29, 2018, Monaco's football club Russian President Dmitri Rybolovlev arrives for a training session at training camp in La Turbie near Monaco. Court decision on request to cancel fraud trial of Monaco FC owner, Russian billionaire Dmitry Rybolovlev, is expected on December 12, 2019. VALERY HACHE / AFP.

by Claudine Renaud



NICE (AFP).- Russian oligarch Dmitry Rybolovlev has lost a case in Monaco against a top art dealer he accused of swindling him out of hundreds of millions of dollars, his lawyers said on Thursday.

Rybolovlev, who owns AS Monaco football club, accused Swiss dealer Yves Bouvier of charging him inflated prices on dozens of artworks he acquired for more than $2.1 billion (1.9 billion euros).

The Monaco court of appeal said the "entire investigation was carried out in a partial and unfair manner" -- a major setback for Rybolovlev, whose five-year feud with Bouvier has played out in courts in five countries.

Bouvier hailed it as "yet another victory" after favourable court rulings in Singapore, Hong Kong and New York.

His lawyer Franck Michel accused Rybolovlev of concocting a case against the art dealer in Monaco as part of a plot to destroy Bouvier's art shipping and storage business.

However, one of Rybolovlev's lawyers, Herve Temine, stressed that Bouvier was still being investigated in Switzerland and promised to appeal against the Monaco ruling.

"Mr Bouvier should not rejoice because this in no way affects the substance of the case for giant fraud of which he is accused," he said.

Rybolovlev commissioned Bouvier to help build up an art collection to rival a small museum -- including works by Van Gogh, Picasso, Monet, Rodin, Matisse and Leonardo da Vinci's "Salvator Mundi", which Rybolovlev sold at auction in 2017 for a record $450 million.

But their relationship soured when Rybolovlev accused Bouvier of overcharging him.

Rybolovlev was himself charged with bribery and influence peddling and Monaco's justice minister was forced to retire over claims he accepted bribes.

Rybolovlev made his fortune in the fertiliser business after the collapse of the Soviet Union.

Forbes business magazine ranks him number 224 on its list of the world's richest people for 2019, with a net worth of $6.8 billion.


© Agence France-Presse










Today's News

December 13, 2019

World's oldest artwork uncovered in Indonesian cave: study

Investors must pay back Sotheby's over forged Frans Hals, court finds

Hauser & Wirth announces representation of Avery Singer

Egypt unveils 'rare' ancient pharaoh bust

Russian billionaire loses Monaco battle with art dealer

Mexico makes deal to defuse naked Zapata painting row

Head cones in ancient Egyptian graves cap archaeological debate

Saint Louis Art Museum receives gift of collection of 19th-century photography

Perrotin Tokyo opens an exhibition of works by Takashi Murakami

Keith Haring mural in Amsterdam preserved for the future

Christie's First Open sale highlighted by kinetic work from New Media artist collective, BREAKFAST

White Cube announces representation of the estate of Bram Bogart

Louise Giovanelli's first solo show in Italy on view at Frutta Gallery

Griffin Museum of Photography opens an exhibition of black and white images by Joshua Sariñana

JEMP 2019 -Mechanical: An experimental music festival inspired by Polish Constructivism opens in London

Modern Patek Philippe wristwatches dominate Sotheby's $8.2 Million Important Watches Auction in NYC

Exhibition explores the importance of works by architects associated with the Avant-Garde

Christie's Magnificent Jewels totals $67.5 million

"An Exceptional Eye: Collections of a Free Spirit" achieves €12.5 million at Christie's Paris

JR's street gallery comes indoors

Rare Rolex Khanjar takes off at Bonhams Fine Wristwatches sale

Dix Noonan Webb to sell extremely rare 16th century hawking whistle

Garage Museum of Contemporary Art launches the experimental program Garage Digital

The Florida Aquarium partners with NOAA on new coral reef restoration initiative

Best Museums in the world, worth traveling for!

Virginia Museum of Fine Arts acquires painting commissioned by King George III

Seven centuries from the Woodner Collections celebrated at National Gallery of Art

Calgary Company Announces Not One But TWO Gifts of Public Art by Internationally Renowned Artists




Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 



Founder:
Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
produces:

ignaciovillarreal.org avemariasound.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. The most varied versions
of this beautiful prayer.
Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful