NEW YORK. A Knoedler & Co. rep told Bloomberg the closure of the 165-year old UES gallery was a "business decision" but the unexpected announcement raised eyebrows as it came one day day after GLG Partners Inc. co-founder, Pierre Lagrange, filed suit in federal court against Knoedler and its former director Ann Freedman for allegedly selling him a fake Pollock back in 2007. Attempts by Lagrange to resell the $17m Pollock at auction in 2010 failed as both Sotheby's and Christie's "refused to accept consignment because of concerns about authenticity." The decision to close its doors may indeed be wholly unrelated to the Lagrange lawsuit but it certainly will not flare well in court.
Hopefully this will be investigated and find a way to determine what's the case behind this thing. And those who will be proven guilty should pay for it.
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maybe there is a much bigger reason of the closure and that must be konown and brought up to public.
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