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WILDENSTEIN & CO. v. WALLIS

79 N.Y.2d 641 (1992)

Wildenstein & Co., Inc., Plaintiff, v. Brent Wallis, Individually, as President of the Hal B. Wallis Foundation, as Trustee of the Hal B. Wallis Trust, and as Executor of Hal B. Wallis, Deceased, et al., Defendants.

Court of Appeals of the State of New York.

Decided June 9, 1992.

Attorney(s) appearing for the Case

Jeremy G. Epstein, Joseph T. McLaughlin, Alan S. Goudiss, Karen S. Hart and Andrew W. Feinberg for plaintiff.

Martin R. Gold and Robert P. Mulvey for defendants.

Chief Judge WACHTLER and Judges SIMONS, KAYE and TITONE concur with Judge BELLACOSA; Judge HANCOCK, JR., concurs in result in a separate opinion.

BELLACOSA, J.

Wildenstein & Co., a dealer in fine art, seeks relief under a settlement agreement between itself and Hal Wallis, now deceased, pursuant to which Wildenstein returned to Wallis in 1982 two valuable paintings, Monet's "Houses of Parliament" and Gauguin's "The Siesta — A Brittany Landscape". In exchange, the agreement gave Wildenstein preemptive and exclusive consignment rights with respect...

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