- Associated Press - Tuesday, February 4, 2014

NEW YORK (AP) - A judge has ruled that billionaire Ronald Perelman’s fraud claim against a top New York City art dealer can go forward.

Perelman and Larry Gagosian (gah-GOH’-zee-ahn) filed dueling lawsuits in Manhattan State Supreme Court in September 2012.

Gagosian claimed Perelman refused to pay the agreed upon price for artworks he ordered. He said Perelman instead insisted the gallery accept other artworks in Perelman’s collection as payment.

Perelman’s suit accused Gagosian of inflating the price on two artworks.

The gallery late dropped its suit and asked the court to throw out Perelman’s complaint.

The judge Monday ordered Gagosian to face the single fraud claim. But she dismissed four other charges against him, including breach of contract.

Gagosian’s lawyer said he was confident the other claims would be dismissed.



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