News

25 June 2020

Petra Warrington paticipates in a panel discussion hosted by London Art Week

On Tuesday, 7 July 2020 at 17:00 BST, Petra Warrington will participate in a panel discussion hosted by London Art Week: The “Life” of a Collection – Managing Today for Tomorrow. More information can be found here.
18 April 2020

Petra Warrington examines online auctions during Covid-19 in Private Art Investor

Originally published in Private Art Investor and can be accessed here. Responding to the Government guidance on COVID-19 issued on 23rd March, auction houses throughout the UK have been forced to close their doors. Those auctioneers that are already set up for online bidding, and so able to build on an existing online business, are in an advantageous place to weather this storm. In any case, auctioneers who intend to continue with sales during this challenging period will need to make significant adjustments to their pre and post auction logistics and consider the legal implications of any changes to the sale format. In particular, they need to check that their existing terms and conditions of business and compliance procedures are fit for purpose…   See here for the rest of the Article…
6 April 2020

Gregor Kleinknecht and Petra Warrington discuss private treaty sales

Originally published by Hunters and accessible here. Despite auction houses and galleries being forced to close their doors for the time being, there will still be plenty of business transacted behind the scenes. Private treaty sales are likely to be a principal means of buying and selling artworks. Unlike public auction sales, private treaty sales offer the parties to the transaction privacy, flexibility and control. That does not mean, however, that they should be entered into without an appropriate level of due diligence and a proper written and enforceable contract in place. That contract needs to incorporate effectively any applicable terms and conditions of business. All too often, we find that terms and conditions are presented to a buyer only on the back of an invoice after a contract has already been entered into which, if a dispute were to arise, would be likely to lead to expensive and time-consuming satellite […]
10 February 2020

The art market guidance on the 5AMLD has been published by the British Art Market Federation (BAMF).

The British Art Market Federation (BAMF) has published its guidance which can be accessed here.
18 January 2020

James Ratcliffe works with the Metropolitan Police and the British Museum to repatriate a carved limestone sculpture to Afghanistan

Read the full article published on the Art Loss Register, which can be accessed here.
12 January 2020

Malcolm Taylor discusses the enforcement of international mediation settlement agreements.

Enforcement of International Mediation Settlement Agreements Originally published on the 36 Art Group News Section. Mediation Mediation can be one of the most effective “alternative” means of dispute resolution. The parties to the dispute are encouraged to fashion a settlement with the assistance of a neutral third party mediator, who has no authority to impose terms, but can assist the parties themselves in agreeing a mutually acceptable resolution.  Mediation can offer a speedy, flexible, informal, cost effective and private mechanism for dispute resolution outside the formal court or arbitral processes. Mediation is increasingly gaining traction in the domestic arena, but has not seen parallel growth internationally.  One of the reasons for this might be a perceived difficulty in enforcing a mediated settlement agreement in differing jurisdictions and thus casting doubt as to the overall effectiveness and certainty offered by the mediation process as a whole.  In fact, there is little […]
11 January 2020

Gregor Kleinknecht and Petra Warrington examine 5AMLD and what it means for the art market.

Originally published by Hunters and accessible here. As of today, 10 January 2020, “art market participants” (including dealers, galleries, agents and auctioneers) are now part of the “regulated” sector for anti-money laundering purposes under The Money Laundering and Terrorist Financing (Amendment) Regulations 2019, which were laid before Parliament on 20th December 2019. Members of the art trade that carry out transactions or series of linked transactions involving works of art amounting to EUR 10,000 or more, must now conduct ongoing risk-based due diligence on the clients involved in those transactions. The definition of works of art is in line with current VAT legislation and excludes antique furniture and some decorative objects. Please see our previous article “AML for the art trade: how not to go to jail under the 5th Directive” for a more in-depth discussion of due diligence. HMRC is the supervising body responsible for overseeing art market participants, keeping a […]
10 January 2020

Petra Warrington is nominated as the Young Lawyers Liaison Officer in the Art, Cultural Institutions and Heritage Law Committee of the International Bar Association.

Read more about the Committee via the IBA’s website here.
3 January 2020

Petra Warrington discusses loaning art at home and abroad in Antiques Trade Gazette.

This article was published in the Antiques Trade Gazette and can be accessed here.
19 November 2019

Petra Warrington writes on the Fifth Anti-Money Laundering Directive in Antiques Trade Gazette

Read the full article published in Antiques Trade Gazette here.