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Brant Spreads His Loan Portfolio Across Multiple Lenders

October 1, 2012 by Marion Maneker

Bloomberg’s Katya Kazakina is all over Peter Brant’s art loan with new details added over the weekend:

Deutsche Bank Trust Co. Americas disclosed in a filing last month with the Connecticut Secretary of State that it received five works of art from Brant under a borrowing and security agreement dated July 31. The collateral includes a 1986 version of Warhol’s “Last Supper” that is identical to a piece that sold at Sotheby’s for $6.8 million almost two years ago as well as a color photograph byCindy Sherman that sold for $2.9 million at Christie’s in May.

According to a separate September filing with New York state, Brant also pledged a 1963 Warhol work entitled “Merce” to Joseph Allen, his cousin and former business partner at White Birch. The 82-inch by 81.5-inch silkscreen of the late dance director Merce Cunningham sold in 1989 for about $2 million and is now worth $25 million to $35 million, said a person familiar with the piece who requested anonymity because the information is private.

Baron Brant Pledges Warhols to Revive Family Business (Bloomberg)

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