Friday, November 19, 2010

Bloodied Noses in Art Punch Out

The continued story of the legal battle between the Beaverbrook descendents in England to capture ownership of the Beaverbrook Gallery of Nova Scotia's collection is winding down with both parties lying bloodied on the canvas.

While it may seem that it all ended with the thump of the judicial gavel, the spin off story begins.

The Beaverbrook family in England has to resolve some very big financial issues.
James Adams writes for the Globe and Mail:

Last year, to meet its debts and obligations, the foundation put up for sale Cherkley Court, the first Lord Beaverbrook’s English country estate, purchased in 1911. The asking price is a repoprted $30-million.

But there's more.

The Beaverbrook Foundation in England, to cover debt, has released the 48 art works it was given title to after the legal battle in Canada. The most formidable being a massive canvas by French artist Claude-Joseph Vernet" A Grand View of the Sea Shore Enriched with Buildings, Shipping and Figures. This is reportedly worth 2.5 million dollars and it will go on the block in Sotheby's New York Auction, on Jan. 27, 2011.

Adams goes on to write:
Some of the results from the auction and, if successful, manor house sale, will likely end up in New Brunswick as the gallery was awarded costs in earlier legal decisions.

To read this complete article, please click here to be taken to the Globe and Mail, site.

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