19 Apr '17, 3am

In Bouvier Affair's Latest Twist, Court Halts Lawsuit in Singapore - Artsy

Singapore’s highest court ruled Tuesday to stay proceedings in the country against Swiss art dealer and freeport owner Yves Bouvier, the latest twist in a years-long international legal dispute between Bouvier and Russian art collector Dmitry Rybolovlev. Rybolovlev had been seeking civil claims against Bouvier in Singaporean courts for fraud and breach of fiduciary responsibilities, arguing that proceeding in Swiss courts would deprive them of “substantial justice.” But the Court of Appeal found that Switzerland is the more appropriate forum for the dispute. The decision sides with the arguments made by Bouvier’s lawyers, who asserted the transactions were governed by Swiss law, as specified in contracts for the pair’s initial four sales. The case sheds light on the informal nature of high-stakes art dealing, in which even nine-figure transactions can be executed with bare...

Full article: https://www.artsy.net/article/artsy-editorial-bouvier-aff...

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