On December 16, 2020, Judge Denise L. Cote of the U.S. District Court for the Southern District of New York found that London-based auction house Phillips Auctioneers (“Phillips”) properly terminated its agreement governing the auctioning of a Rudolf Stingel painting for force majeure after postponing its spring auctions in the…
Continue Reading Southern District of New York Finds that Phillips Auction House Properly Invoked Force Majeure Clause to Terminate Consignment and Guarantee Agreement in the Midst of the COVID-19 Pandemic