Source: Evening Standard
The official website of the Kataeb Party leader
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Friday 22 March 2024 16:35:44
Bankrupt British Socialite Is Owner Of Centuries-old Painting, Judge Rules
A bankrupt British socialite is the owner of a centuries-old portrait at the centre of a High Court legal dispute, a judge has ruled.
James Stunt and his father, Geoffrey Stunt, had been in a legal row with the trustees of James’ bankruptcy over the Sir Anthony Van Dyck painting, The Cheeke Sisters.
At a trial at London’s Rolls Building earlier in March, barristers for the trustees claimed that James owns the portrait, but both James and Geoffrey claimed that the latter bought the artwork in 2013 for £600,000.
In a ruling on Friday, Insolvency and Companies Court Judge Clive Jones dismissed the Stunt claims, ruling that the painting should be classed as belonging to James for the purposes of his bankruptcy.
He said: “In my judgment on the balance of probability, Mr James Stunt was the contracting buyer.
“He did not hold the beneficial interest on trust for his father.
“The fact that Mr Geoffrey Stunt paid by cheque was taken into consideration when reaching that conclusion.
“The painting forms part of the bankruptcy estate.”
James was previously married to Petra Ecclestone, the daughter of former Formula 1 boss, Bernie Ecclestone.
The pair divorced in 2017, with James declared bankrupt in June 2019.
The three-day trial heard from Joseph Curl KC, representing the trustees, that James Stunt purchased the painting, which is now valued at up to £4 million, but Geoffrey Stunt later claimed ownership of it.
Mr Curl said that this represented a “significant injustice” to the trustees and that the painting should be considered part of James’ bankruptcy estate.
He told the court that the art company that sold the painting believed James “became and was always intended to be the owner of the painting”.