Art Financier Can't Shake Suit Over Diversion Of Business

Law360, New York (August 28, 2012, 8:38 PM EDT) -- The head of art financing company Art Capital Group Inc. lost his bid on Tuesday to dodge a New York federal court suit alleging he tried to dupe investors into believing the company had gone bust while diverting corporate opportunities and assets to other legal entities.

In a one-page order denying the motion for summary judgment, U.S. District Judge Katherine B. Forrest knocked down ACG Inc. chief Ian Peck's attempt to dodge the derivative suit brought by Hilton Head Holdings BV, a Dutch company that invested...
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