Comment
0
Tweet
0
Print
RSS Feeds

Legal concerns foil Portugal's art sale ambitions

Tuesday - 2/4/2014, 1:40pm  ET

BARRY HATTON
Associated Press

LISBON, Portugal (AP) -- Legal wrangles have thwarted debt-heavy Portugal's attempt to raise cash by auctioning a collection of works by Spanish artist Joan Miro.

The sale of 85 works by the surrealist master was one of the highlights of a two-day auction of Impressionist and modern art in London, beginning Tuesday.

But Christie's called off the sale a few hours before it was due to start, citing legal concerns.

Earlier in the day, a Lisbon judge denied a request from Portugal's main opposition Socialist Party for an injunction to stop the sale of the public property from a nationalized bank, which was expected to raise at least 36 million euros ($48 million).

But Christie's said in a statement the court challenge created "legal uncertainties" that could bring questions about future ownership rights.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.