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former owners of the art newspaper and lofficiel say amtd still owes buyout funds amid ipo listings 1234774020

The former owners of The Art Newspaper and L’Officiel are embroiled in legal disputes with the Hong Kong-based AMTD Group, alleging they have not received full payment for the sale of their publications. Russian publisher Inna Bazhenova, who sold The Art Newspaper for an estimated $16–17 million, and the Jalou family, former owners of L’Officiel, claim that AMTD owes significant buyout funds despite the media brands being used to anchor high-profile IPOs on the New York and London stock exchanges. Bazhenova specifically alleges that shares provided as part of the payment have been 'parked and frozen' by a brokerage linked to AMTD, preventing her from accessing her capital.

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paint drippings art industry news feb 2 spanish dealers 2742104

A series of significant developments occurred across the global art industry this week. Expo Chicago announced a scaled-back edition under new director Kate Sierzputowski, while the Outsider Art Fair revealed its exhibitor list. A long-lost Renaissance portrait by Sofonisba Anguissola resurfaced at the Winter Show. Christie's will sell the collection of the late MoMA trustee Barbara Jakobson, featuring works by Jeff Koons and others. Bonhams made a key hire, and Sotheby's priced a major art-backed securitization. In gallery news, Alissa Friedman returned to Salon 94, Mary Cork joined Lehmann Maupin London, and several artists gained new representation, while New York's Francis Irv gallery announced its closure.