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Edelman v. Emigrant

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Asher Edelman is not letting the judgment against him lie. He’s filed a suit against Emigrant and wants to hear from anyone else who has had similar experiences with Emigrant.

Here is the complaint (Edelman v. Emigrant – Amended Complaint) he filed against Emigrant that details the dealings between Edelman Arts and Emigrant over various works but especially a Giacometti sculpture Torse de Femme. Some excerpts from the complaint related to the Giacometti and Emigrant’s interest in receiving proceeds from Edelman’s auction guarantee business, Art Assure, Ltd.:Continue Reading

Edelman Claims a Win

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Asher Edelman was ordered to pay Emigrant to resolve their dispute over a $3.1m art loan, $2m of which was used to buy Giacometti’s Torse de Femme, according to Reuters:

Justice James Yates of the New York State Supreme Court in Manhattan ordered on July 13 that the $559,323 payment be made. The order was made public on Thursday.

“We could have avoided the judgment, but instead invited it,” Edelman said in an interview. Continue Reading

Edelman Goes After Emigrant

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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)

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