Phillips de Pury & Co. to sell art works of the now-defunct, Dreier LLP law firm

When Dreier LLP filed for Chapter 11 protection in bankruptcy court in Manhattan, claiming to have liabilities tallying between $10 million and $50 million, they knew they would have to part with their collection of 20th Century Master prints. Credits waiting satisfaction include, landlord of 499 Park Ave. ($908k); West Publishing ($441k); American Express ($323k); PR firm Van Prooyen Greenfield ($274k); ABM Janitorial Services ($89k); and AT&T ($81k).

The Dreier collection includes blue chip artists of the 1970’s and 1980’s and will go under the hammer of Phillips de Pury & Co this fall.

Sources:
http://www.law.com/jsp/article.jsp?id=1202429441139;
http://www.artdaily.org/index.asp?int_sec=2&int_new=40961

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