NEW YORK (AP) — Billionaire Ronald Perelman and a top New York City art dealer have traded lawsuits over several artworks including a sculpture of Popeye by Jeff Koons.
The Revlon mogul and Larry Gagosian (gah-GOH'-zee-ahn) filed the dueling lawsuits within hours of each other in Manhattan State Supreme Court.
According to the Daily News (http://nydn.us/SetDq5 ), Gagosian claimed Perelman refused to pay the agreed upon price for artworks he ordered. The lawsuit says Perelman instead insisted that the gallery accept other artworks in Perelman's collection as payment.
Perelman's suit says Gagosian didn't inform him of a secret deal with Koons that would have guaranteed the art dealer substantial profits. He claimed that deal hurt his ability to resell "Popeye" at a substantial profit.
Information from: Daily News, http://www.nydailynews.com