AAM recently learned that on Friday, Asher Edelman “filed an action against the financially impaired Emigrant Bank.”

The legal trouble between Edelman and Emigrant began in March, when Emigrant sued Edelman over a history of “late payments, missed payments, other defaults and collateral sales,” according to this Reuters report published last month. The report also included the following quote from Edelman, which foreshadows his recent action against Emigrant:

“I have paid the bank what I believe I owe,” said Edelman, who now runs the Edelman Arts modern art gallery on Manhattan’s Upper East Side. “I’m angry. I seldom get angry, but I am.”

Ex-raider Edelman fights back over Giacometti loan (Reuters)