[intro]Christie’s Wants It’s Money[/intro]

Osian’s filed suit in Federal Court late last week demanding Christie’s release 29 works of art bought by the Indian art fund, auction house and art adviser for $800,000 over the course of five auction during the year between Sept. 2007 and Sept 2008. The complaint says that Christie’s is holding Osian’s works because a related party, Bregawn Jersey Ltd., owes Christie’s money that has not been paid.

The complaint asserts that their is no legal relationship between Bregawn Jersey and Osian’s. But Osian’s lawyer declined to comment any further while the case is active. Osian’s wants $900,000 in damaages.

Christie’s responded with this statement: “Christie’s finds this complaint  completely meritless.  We have been seeking to recover a significant debt from an Osian-related party for more than one year. Christie’s intends to review all of its legal remedies in response to these baseless allegations.”

A copy of the complaint can be downloaded below:

Osian’s v. Christie’s