The End of a Nine-Year Legal Battle Between Billionaires Yves Bouvier and Dmitry Rybolovlev

The long and dramatic legal battle between Swiss dealer Yves Bouvier and Russian oligarch Dmitry Rybolovlev has finally come to an end after nine years of disputes and court proceedings in various jurisdictions around the world. The settlement, confirmed by representatives for both parties and Swiss prosecutors, puts an end to the claims stemming from an alleged $1 billion overcharge on 38 blue-chip art transactions worth over $2 billion.

Sandrine Giroud, Rybolovlev’s attorney, confirmed the settlement, stating that the terms are confidential. Bouvier, on the other hand, expressed his gratitude for the support he received throughout the ordeal and emphasized that courts worldwide have unanimously concluded his innocence.

The dispute began eight years ago when Rybolovlev accused Bouvier of flipping art in purchases to him at a mark up, despite believing Bouvier was acting as his agent and advisor. The question of what disclosures art dealers must make to clients was at the center of the conflict, with Bouvier maintaining he was not an agent or advisor in the deals.

Despite the settlement, Rybolovlev is proceeding with litigation against Sotheby’s, alleging they played a major role in helping Bouvier inflate prices over the years. The case is set to go to trial in New York next month, with Sotheby’s facing questions about their involvement in allegedly fraudulent sales of artworks, including Leonardo da Vinci’s Salvatore Mundi.

The resolution of this high-profile legal battle marks the end of a complex and contentious chapter in the art world, with both parties now looking to move forward from the years of legal wrangling and disputes.