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It’s been nearly a decade since the once prestigious American art dealer Berry-Hill Galleries filed for Chapter 11 bankruptcy, but the gallery’s financial woes continue even today. A recent ruling in a complicated dispute with a private investment company, signed by New York State Supreme Court judge Shirley Kornreich late last month, shines additional light onto the murky, unethical business practices the gallery used to attract financing and facilitate deals.

An arbitrator ruled that James Hill and Berry-Hill Galleries must pay roughly $3 million to 624 Art Holdings, the name under which a private investment firm in midtown Manhattan pursued claims against Hill and the gallery for various unfulfilled art deals. According to a 30-page arbitration decision, obtained by artnet News, the convoluted schemes and ensuing disputes played out over the course of the last seven or eight years, and were happening even as the gallery was on the hook for tens of millions of dollars in connection with its bankruptcy filing.

To read more:

https://news.artnet.com/market/berry-hill-shows-how-not-to-conduct-art-investment-again-66683

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