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Insurer Settles Ansel Adams Suit

May 4, 2009 by Marion Maneker

The Wall Street Journal’s Bankruptcy Blog reports this deal between Fremont General Corp. and the California insurance commissioner over the proceeds of a sale last year of Ansel Adams photographs:

Fremont General Corp. has agreed to let California’s Insurance Commissioner to keep $4.1 million from the sale of Ansel Adams prints sold at Christie’s auction house last year in the months before the company filed for bankruptcy protection. At issue was a collection of Ansel Adams prints — among the largest in private hands, according to Christie’s — that included 121 silver-gelatin Ansel Adams prints. The collection also included 23 mural-size prints of famous Ansel Adams photographs such as “Clearing Winter Storm, Yosemite,” and “Aspens, Northern New Mexico.” [ . . . ]

Fremont Indemnity acquired the Ansel Adams prints over a six-year period between 1969 and 1975 when the famed photographer and company vice president David McIntyre worked together on a project to decorate Fremont’s offices.

Under the deal, Fremont General will keep about $300,000 from the auction and the unsold artwork, which is estimated to have a value of as much as $2 million.

Fremont Settles Suit Over Ansel Adams Prints (WSJ/Bankruptcy Beat)

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