The artwork at the Salander-O'Reilly Galleries and its warehouses are going back to their owners, according to Bloomberg:
Lawyers involved in the bankruptcy of Salander-O'Reilly Galleries LLC have proposed a process to enable owners of the 4,000 artworks held at the New York gallery and its warehouses to retrieve their property.
Under the so-called protocol, a gallery employee will advertise an inventory of the artworks and interested parties can submit an application to recover any pieces to a review committee.
A hearing on the plan is scheduled for Feb. 14, in Poughkeepsie, New York. If the proposal is approved by U.S. Bankruptcy Judge Cecelia Morris, the deadline to make a claim would be May 9. The gallery, on Manhattan's Upper East Side, has been closed since mid-October. It filed for bankruptcy protection on Nov. 9.
Lawyers Suggest Process to Retrieve Art From Salander-O'Reilly [Bloomberg]