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Thursday, April 24, 2014

Chicago Art Dealer, Richard Love Found Liable for Fraud

Art dealer Richard H. Love Art dealer Richard H. Love Courtesy TFAOI

On October 4, 2011, art dealer, Richard H. Love, and his Chicago gallery, R. H. Love Galleries, Inc. were found liable for over $16 million in claims for breach of contract, misrepresentation, fraud and punitive damages by Chief Judge Barbara J. Vigil of the First Judicial District Court in Santa Fe, New Mexico. The claims arose from Love’s dealings surrounding an oil painting entitled “Sunset Over the Plains” by Albert Bierstadt. The sellers of the painting, Jerald Freeman, Thomas Nygard and Tea Leaf, Inc., represented by Kurt Wihl and Christina Gooch of the Albuquerque firm of Keleher & McLeod, received an award of $5,122,389. The purchaser of the painting, Paul W. Fairchild, Jr., represented by David F. Cunningham of the Santa Fe firm of Thompson, Hickey, Cunningham, Clow, April & Dolan, received an award of $11,654,678. For further details, refer to the First Judicial District Court Cause No. CV-2005-1424 court file.

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