$1.5 Million Art Transaction Settles Before Closing Arguments

PDM represented two Colombian businessmen who loaned $1.5 Million to a Miami art dealer. The art dealer claimed that he had repaid the entire loan with the art that he delivered to the businessmen in Colombia. During the litigation, PDM arranged to have the art sold at a professional auction house in Philadelphia. The prices obtained at auction did not cover the loan amount.

PDM tried the case in March 2013 in Miami. Prior to closing argument, the case settled on confidential terms.