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Cross-country drive on 2 gallons of gas
LAS VEGAS, Jan. 12 (UPI) -- A Las Vegas casino mogul filed suit against Lloyd's of London, claiming the insurer failed to observe his insurance policy after he damaged a Picasso painting.
Steve Wynn claims he was planning to sell "The Dream" by Pablo Picasso for $139 million when he accidentally tore the painting with his elbow while showing it to prospective buyers, reducing the artwork's value to about $85 million, the New York Post reported Friday.
Wynn's lawyers claim the insurance company refused to share reports from a separate appraisal and damage assessment carried out on behalf on Lloyd's after the restoration was complete. The lawsuit seeks to force Lloyd's to release its assessment of the painting's post-restoration value and thereby expedite Wynn's insurance claim.
"I would presume that the court action will cause Lloyd's to act appropriately," Barry Slotnick, an attorney representing Wynn in the suit, said in the Post article.
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