Friday, October 09, 2015

Back in your court

We’ve now had time to read through the Judgment papers issued by High Court Judge John Fogarty in the case of Bambury vs Jensen. At 145 pages it must be one of the most expensive art texts written in this country! A number of readers have suggested that our initial post was somewhat unfair to defendant Andrew Jensen claiming Stephen Bambury as a clear winner. Despite our comment that the settlement was ‘a much reduced pay out based on the initial claim of around $700,000 about the much reduced pay out on the initial claim of around $700,000’ we also wrote up that ‘the High Court has found in favour of the artist’ so it’s probably a fair enough reaction. 

Here’s a little more detail about what happened. There were 41 items disputed by the artist (mostly around payments owing on paintings) of which 26 failed to convince Judge Fogarty for various reasons. Two other items were set aside because of the Limitations Act, a couple were granted leave to apply at another time and seven required payments being made to Bambury in the total amount of $139,200 plus some interest. Given the amount of money that must have been spent taking this action to the High Court there were probably no winners on the day. We’ll try to make a copy of the Judgment easily available on OTN if we can. It’s a fascinating insight (and a rare one) into the back office world of dealers and artists. 
Image: trajectory of a ping pong ball