Partner Bill Charron's recent motion to New York's highest court to appeal the validity of claims by heirs of an Austrian family to a pair of Egon Schiele drawings was highlighted in a recent New York Law Journal piece.
Charron, who heads the firm's Art Law practice and represents London-based dealer Richard Nagy, noted that "the availability of the defenses of laches and collateral estoppel are critical to provide certainty to the New York marketplace, especially when dealing with collections of art and other property that may be sold in distinct parcels to multiple buyers."
He went on to note that "the doctrine of collateral estoppel should have barred the re-litigation of issues settled in federal court while Nagy's date of acquisition should have been irrelevant to his laches defense."
The full article is available here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
