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In 2017 Anatole Shagalov sued Artemus over a leaseback scheme Max Rapp/Patrick McMullan via Getty Images The long-running legal battle between Artemus, the art sale/leasing company set up by the financier Asher Edelman, and the art dealer Anatole Shagalov, has finally been concluded with a “win” for Artemus. The battle started in 2017 when Shagalov and his company Nature Morte (no relation to the New Delhi gallery) sued Artemus over a multimillion-dollar leaseback arrangement, which included a Keith Haring and two Frank Stellas. Shagalov allegedly did not pay the agreed fees and then tried to prevent Artemus from selling the art, claiming his arrangement with Artemus was a “collateralised loan” and not a purchase. Artemus’s business model is to buy a work of art and then lease it back to the vendor. Shagalov initially prevailed in court, but in March this year Justice John Koeltl dismissed Shagalov’s case with prejudice, bringing the whole affair

New yorkUnited statesNew delhiAbu dhabiAsher edelmanJustice john koeltlKeith haringFrank stellasMax rapp patrick mcmullanAnatole shagalovSouthern district courtPatrick mcmullanNature morteEdelman artsபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்