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Troubled Wildenstein Townhouse Subject of Blavatnik Lawsuit to Complete Sale

November 18, 2016 by Marion Maneker

wildenstein-mansion

The Wildenstein family’s valuable piece of Manhattan real estate just can’t seem to close. There was a $100m deal with the government of Qatar that fell through two years ago. Since then, the market for Manhattan townhouses has been declining.

So it’s a wonder that Len Blavatnik has had to sue the Wildenstein family for backing out of a deal to sell the place. The London Evening Standard quotes heavily from Blavatnik’s lawsuit that seems more about frustration over losing the 64th street address than having a strong case:

Mr Blavatnik, 59, already has a property on the block — a £62 million mansion on Fifth Avenue — and wanted Mr Wildenstein’s home as his offices.

According to the lawsuit filed by Access Industries, Mr Blavatnik’s company, Mr Wildenstein “unambiguously” agreed in a phone call on October 6 that Mr Blavatnik would be able to purchase the property. […]

Then on October 13, according to the lawsuit, Mr Wildenstein told Mr Blavatnick “he was not authorised to sell the property” and had to get “board approval”, apparently from 1964 Realty LLC, which is named as a co-defendant.

Billionaire sues art dynasty over £63m deal to buy New York townhouse  (London Evening Standard)

What's in the Wildenstein Vault?

April 19, 2011 by Marion Maneker

The New York Times has a long story on the Wildenstein case that takes quite a while to get to anything good. But near the end, we learn about the real stakes in this battle beyond the grave between Daniel Wildenstein’s widow and his son, Guy.

The issue is that Wildenstein has acted as more than an art dealer for many clients. They stored art in the Wildenstein vaults and trusted to Guy to administer their affairs. Except the recent discovery of works at Wildenstein has encouraged others to pursue their own claims:

Yves Rouart, nephew and heir of the art collector Anne-Marie Rouart, has been battling the Wildensteins  in the French courts for years for the return of artworks from her collection after Mrs. Rouart’s death in 1993.  She donated part of her collection and property to the Académie des Beaux-Arts,  on the advice of Daniel Wildenstein.   But she left her luxury apartment in Neuilly-sur-Seine,  with its furnishings, to Mr. Rouart. His legal pursuit began when he claimed to have discovered that as many as 40 paintings  —  including works by Degas, Manet and the Morisot painting of the Normandy cottage — were removed from the walls during the settlement of  her estate. Continue Reading

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