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Inner City Press Profile picture
@innercitypress
Apr 6 • 10 tweets • 4 min read • Read on X
Scrolly
OK - now at hearing about possession of Jean-Michel Basquiat's "Humidity." Athena Art Finance Corp, appealing an order, has asked for a stay of SatFinance taking it overseas and selling it. Inner City Press will live tweet, thread below Image
Magistrate Judge Valerie Figueredo: Isn't there some way to protected Athena's interest without stopping SatFinance from doing what it wants with the painting? Like, a bond? It sounds like the market is hot for this painting, or Basquiat generally
Athena's lawyer: We would not oppose SatFinance posting a bond
Judge: In what amount?
Athena: Over $13 million
Judge: SatFinance?
SatFinance's lawyer: They have no ownership interest. If they win in the 2d Circuit, they would have a security interest
SatFinance's lawyer: We, or I as the lawyer, get calls every week from investors who want to see this art work. So this is depriving us of opportunities.
Athena's lawyer: A secured interest is a property interest, just like there. This is an in-rem litigation
SatFinance's lawyer: This painting has been in the equivalent of a storage locker in Long Island City. We just want to move it to the storage locker next door. The winning party should not have to post a bond. They should, if they want a stay
Athena's lawyer: They never asked for possession before, that was Philbrick
[Note - Inner City Press covered the sentencing of Inigo Philbrick to 84 months in prison: innercitypress.com/sdny63bsteinph…
And see news.artnet.com/art-world/judg…
Athena's lawyer: If this were a house, we could just slap an lis pendens on it. But art, it's a wild wild west. There is black market. We face irreparable harm.
SatFinance lawyer: I hope they withdraw the reference to any black market sale of the painting
Athena's lawyer: This is a unique res... We can't insure a painting we don't possess
SatFinance's lawyer: That's not true. They want the money. That's all they want from this case.
Judge: Want if there were language that Athena would be entitled to money damages?
SatFinance lawyer: Let me check with the client
Judge: OK
Delhunty Fine Art: What is SatFinance holds money back if it makes the sale, providing notice to us?
Judge: I appreciate you proposing that
Break - story later
If like the live coverage and can, support:
paypal.com/paypalme/matth…
venmo.com/u/Matthew-Lee-…
buymeacoffee.com/innercitypress
w/ extras, as on X for Subscribers: matthewrussellleeicp.substack.com
w/ docs: patreon.com/MatthewRussell…
Books: amazon.com/author/matthew…

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More from @innercitypress

Inner City Press Profile picture
Apr 2
DC Beat: Now lawsuit seeking block construction of an arch in Memorial Circle near the Arlington Memorial Bridge and Arlington National Cemetery - Inner City Press is covering DDC and will live tweet, thread below Image
Judge Tanya Chutkan: What assurance to I have I will not wake up one morning and there is construction and an emergency motion?
AUSA: I'm not aware-
Judge Chutkan: I am having a problem with lawyers coming in saying that. You should prepare
AUSA: The project is still in the conceptual phase. The fact that the plaintiffs don't know is a function of when they chose to file the lawsuit
Judge Chutkan: No, it's a function of that they don't work in the White House.
Read 14 tweets
Inner City Press Profile picture
Apr 2
OK - in Epstein victims case against Bank of America, now settlement fairness hearing on $72.5 (or $85) million deal here @SDNYLIVE Inner City Press is covering the cases patreon.com/posts/epstein-… & OCC innercitypress.com/epsteinfiles5b… and will live tweet, thread below Image
All rise!
David Boies, Sigrid McCawley, Brad Edwards - and Charlotte Taylor and more for Bank of America.
Judge Rakoff: My first question is, Who are you going to send the notice to and how are you going to determine that?
Boies: The people we have identified
Boies: Over time the list of survivors of the sex trafficking venture has grown. We would propose also some kind of publication notice.
Judge Rakoff: Members of the class will not know they have to file a claim or to opt out. Where would you publish notice?
Read 17 tweets
Inner City Press Profile picture
Apr 1
OK - now at presentment in USA v. Zhan Petrosyants, good friend of ex-Mayor Eric Adams, last seen dodging a GEICO subpoena, now arrested for auto insurance fraud. His retained lawyer has been here in the SDNY Mag court waiting for the pre-trial services report 1/x Image
Waiting here for past hour with Petrosyants defense lawyer schmoozing, saying he'll need a New Jersey lawyer (presumably to secure the bond), commenting on a case wheeled out from grand jury - finally now pre-trial services report arrives
Woman who's been waiting here in the courtroom is now told to go to 26 Federal Plaza and "pick up his luggage" - hmm. She will not be bringing the luggage back to the courthouse, but is told (by lawyer) to "call an Uber for your husband." Waiting for judge
Read 9 tweets
Inner City Press Profile picture
Mar 26
OK - now US v Maduro, hearing on whether Venezuela can pay his lawyer Barry Pollock. Inner City Press is covering the case and will live tweet, thread below matthewrussellleeicp.substack.com/p/extra-maduro…Image
11:42 am
All rise!
Barry Pollack: Your Honor, in Luis versus US the Supreme Court said that defendants have a right to counsel of choice, and to use untainted funds. Also, funds of a third party. Here, the Government has not contested these 2's property interest
Judge Hellerstein: The point in Luis was UNtainted funds. The similarity here is that... the sanctions are equivalent to the taint. Sanctions on Venezuela from paying out. That's a difference, isn't it?
Pollack: That is not outcome determinative under Luis
Read 34 tweets
Inner City Press Profile picture
Mar 25
OK - now in Taibbi v. Higgins, oral argument on motion to dismiss. Defense lawyer Elizabeth McNamara: They must show the defendants knew or should have known what they reported was false. They can't. Inner City Press, banned from UN, will live tweet, thread below Image
McNamara: This comes down to a political fight.
Judge Daniels: The definition of "bought" is that someone has paid someone for something. And owned means not making independent judgments but based on the compensation they receive
McNamara: That's one definition
Judge Daniels: It's right on the cover. In what way was he bought?
McNamara: He highlighted 1st the Hunter Biden situation. Bought means being a sell-out, classic opinion. The flaw in their case is this is an implication of the cover. There's no implication count
Read 26 tweets
Inner City Press Profile picture
Mar 19
OK - Live Nation trial Day 4 with states, Rapino due on stand, with some exhibits redacted - Inner City Press has asked to unseal & and is covering (Book: amazon.com/dp/B0GRN95HNT March Madness monopoly matthewrussellleeicp.substack.com/p/ticketmonste… ) and will live tweet, thread below Image
All rise!
Judge Subramanian: We'll address later the proposed exclusion of some of Doctor Hill expert opinion, those that remain after the DOJ settlement. Jurors 9 and 12 are excused based on financial hardship - the Court was unable to solve it, they are excused
Judge Subramanian: I need five minutes, I've forgotten my notes on the objections.
States' Kessler: We will finish our evidence and finish our case next Wednesday [!]
Read 76 tweets

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