Pace Gallery Sued For $1.3M Over De Kooning Damages

By Kat Greene (August 22, 2013, 8:14 PM EDT) -- XL Specialty Insurance Co. has sued the Pace Gallery for $1.3 million over damages to a $6.4 million Willem de Kooning painting that occurred when packing materials became stuck to the work while in transit, according to a complaint filed in New York state court on Wednesday.

XL is suing the New York City-based art gallery on behalf of its client, Michael Altman Fine Arts & Advisory Services LLC, for breach of contract and negligence over the damage to de Kooning's "Untitled IV," which was being shipped from Seattle to a potential buyer, James Sowell, when packing materials became stuck to...

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