Settlement: NY art collector owns 1931 Picasso sculpture

AP News
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Posted: Jun 15, 2016 2:10 PM

NEW YORK (AP) — The settlement of a New York court case calls for a 1931 sculpture of Picasso's mistress to be owned by New York art collector Leon Black rather than the royal Qatari family.

The deal was announced Wednesday in a joint statement by all parties. It ends a dispute that played out in Europe and the United States.

Black will be the owner of a plaster sculpture of the mistress, Marie-Therese Walter. The sculpture is titled "Bust of a Woman."

An entry in Manhattan federal court records indicated that a settlement was reached in May, but it did not say who would have ownership of the sculpture.

Gargosian Gallery spokesman Jeffrey Schneider says the deal shows that the gallery sold the sculpture in good faith and vindicates its position.