Manhattan Socialite Libbie Mugrabi thought that her $ 100 million divorce would be her biggest problem – but it appears that a valuable Andy Warhol artwork would give her an even greater headache.
Mugrabi, 45, received the owner of various valuable pieces in the midst of her bitter split of the billionaire art market market David Mugrabi in 2020.
Three years later she chose to use one of the pieces – a 1982 painting by Jean Michel Basquiat with a Healed Christ -like figure with a half moon above – to obtain a Loan of $ 3 million from Art Capital Group.
Mugrabi said that the lender, who specializes in the use of works of art such as collateral for loans, also for a series of Andy Warhol portraits from Jacqueline Kennedy Onassis asked that the Socialite Claims are worth at least $ 1 million, along with a Due Diligence allowance from $ 12,500 '.
But in the end they refused to give Mugrabi her loan – which she wanted to buy a house in the south of France – stating concern about the credit score. Directors refused to return the Warhol series, of which it was part of the agreement.
Mugrabi did not agree with that and accused the credit toycons at the top of the company to steal her effectively, in a report that she submitted to the police in Southampton, New York.
The daughter of plastic surgeon Charles Scher also repeated the same accusation in less formal tones during an eruption in the Amaranth restaurant, a chic place on the Upper East Side, according to the New York Times.
“You stole my painting like a Nazi, right out of my house,” Mugrabi shouted, who was Jewish at the time.
Mugrabi, 45, won ownership of various valuable pieces in the midst of her bitter split of the art market magnate David Mugrabi in 2020. Shifted, Libbie and David in April 2018
Libbie Mugrabi lives in August 2023 to a party in St Tropez, France, France,
Libbie says that her Warhol Jackie should not have been sold
In February she continued their feud through 'wanted' posters in square with the directors of Art Capital outside their offices of Madison Avenue and in East Hampton.
The directors – Ian Peck and Terence Doran – hit back with a $ 30 million lawsuit in September, where they accused Mugrabi of inciting an illegal campaign of intimidation and false and malicious'.
Peck wrote in a statement that the company was forced to sell Warhol art for $ 325,000 to cover the escalating costs due to reputation damage. Mugrabi has denied that someone will disadvantage it and has moved twice.
“They are no one,” she said in a telephone interview with The New York Times. “I'm the star, not she, right?”
The loan from Mugrabi came with an interest rate of more than 10 percent, according to judicial articles.
The Socialite claims in its legal files that the Basquiat she had set up as collateral was worth more than $ 30 million – but the lender said that an auction house estimated the value of $ 4 million and $ 6 million last year.
The lawyer of Mugrabi, Claude Castro, said that Art Capital saw his client as a way to “earn money by charging costs and costs,” and that they never intended to give her the loan, according to the New York Times.
Art Capital came back – in a lawsuit saying that it only sought 'legitimate costs and costs' as part of a business deal, while struck Mugrabi's claims as 'absurd'.
Mugrabi with her billionaire artificial marts ex-husband in New York City in 2017
Libbie is outside the court in Lower Manhattan with a bulletproof vest in 2023
Mugrabi claims in a legal submission that the company took the Warhol under the auspices that the move was temporary and had to inspect – not that they would keep it indefinitely.
She reported this to the police – although they did not agree with her report and said that there was no evidence to support crime at the moment, “according to judicial documents.
Art Capital said in a statement to the New York Times that “the sale of the Warhol did not start covering ACG's losses.”
Mugrabi's misery follow her bitter separation of art dealer David Mugrabi, whose family owned the largest private collection of Warhols in the world.
The couple enjoyed a whirlwind -romanticism in 2001 and married four years later in the Pierre Hotel in New York, with Mugrabi wore an expensive tailor -made Victorio Y Luccino dress.
They were able to have two children and lived together a life of luxury in the coming years, and visited art fairs in Venice, together with holidays in Portofino, Miami and St. Barts.
Libbie Mugrabi shares her lush lifestyle on social media. She split her billionaire husband in 2020
Mugrabi finds a sultry attitude next to her Balenciaga -hand bag
Art Mogul David Mugrabi is depicted and a court session is left in the Supreme Court of New York County on December 6, 2018
But it went a turn when Mugrabi said she woke up after a dinner in 2018 in their Hamptons house to find her husband and another woman naked and asleep under a painting by Richard Prince.
Their subsequent divorce brought the headlines all over the world while they argued about how to split their enormous wealth, with Mugrabi claiming that she had to sell her diamond ring of $ 100,000 to maintain a divorce lawyer.
The hearings were peppered with drama. Mugrabi even came to one hearing in a bulletproof vest and claimed that she was afraid that her husband might have hired a hit – something that he strongly disputed.
They eventually settled in 2020, with Mugrabi received the Sag Harbor -Herenhuis and some works of art.
