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Lawsuit Over Picasso’s Bust of a Woman Settled

According to Robert Burnson and Patricia Hurtado of Bloomberg, a settlement has been reached between a member of the Qatari royal family, Sheikh Jassim bin Abdul Aziz Al-Thani, and New York–based billionaire Leon Black over Picasso’s sculpture of Marie-Therese Walter, Bust of a Woman, 1931.

The sculpture, which was owned by Maya Widmaier, Picasso and Walter’s daughter, was going to be purchased by gallerist Larry Gagosian for $106 million and eventually resold to Black. The deal was put at risk, however, when Al-Thani and the Qatar Museums Authority said that they had already negotiated a deal, with Widmaier’s son, to purchase the sculpture in 2014 for about $47 million. Gagosian and Al-Thani filed their lawsuits this year in federal court in Manhattan.

US district judge William Pauley said, “It having been reported to this court that these actions have been or will be settled, these actions are discontinued without costs to any party.” The judge added that either party can ask to reopen the suit within thirty days.