Sperone Westwater's Closing: A Tale of Legal Drama and Business Discord
The renowned art gallery Sperone Westwater, a stalwart in the art world for 50 years, is set to close its doors this December. But the story behind this closure is not just a simple goodbye. It's a tale of legal drama, business discord, and a co-founder's lawsuit against the other.
The lawsuit, filed by dealer Gian Enzo Sperone against his co-founder Angela Westwater, alleges a 'parasitic deadlock' and a breakdown in communication. The two dealers, once partners in the gallery's success, are now so divided that they do not even speak directly to one another. The suit accuses Westwater of mishandling funds, withholding records, and mismanaging rent payments, painting a picture of a business in turmoil.
Sperone Westwater, founded in 1975 as Sperone Westwater Fischer, has showcased the works of renowned artists such as Bruce Nauman, Francesco Clemente, and David Lynch. Its closure comes as a shock to the art world, especially given the gallery's long-standing reputation and its current show by Richard Long.
The legal battle began when Sperone, alongside Sandstown Trade Ltd., a 50% stockholder in Sperone Westwater, filed a lawsuit in August. The suit claims that Westwater, who owns the remaining 50%, has been making reckless decisions. It alleges that she increased her own salary without permission, mishandled consigned artworks, and sought to use the gallery's valuable Foster Building to subsidize her personal interests.
Westwater's response to the lawsuit is revealing. In an email, she expressed concerns about Filippo Pistone, a family friend and business associate, who was appointed as a director. She claimed that Pistone had been bullying her and the gallery's staff with false claims and unduly burdensome demands. The lawsuit also describes a meeting between Westwater and Pistone as 'cordial', but with a tense undercurrent.
The dispute over rent payments is a key point of contention. The gallery's stockholders invested $10 million in the Norman Foster-designed building, and the gallery was expected to pay $1.8 million in rent. However, Westwater allegedly sought to change the payment structure, citing declining revenues and profitability. Sperone and Sandstown argue that Westwater threatened to close the gallery at any time, and that she was using the Foster Building to subsidize her personal interests.
As the legal drama unfolds, the art world waits with bated breath. The closure of Sperone Westwater Gallery is a stark reminder of the challenges that can arise in the art business, where personal and professional relationships can sour, leading to public disputes and legal battles. The outcome of this lawsuit will have significant implications for the gallery's legacy and the future of its artists and staff.
