From
March 9, 2006
The company set up by Charles Saatchi to run his self-titled gallery will be compulsorily wound up after a High Court ruling yesterday.
The company set up by Charles Saatchi to run his self-titled gallery will be compulsorily wound up after a High Court ruling yesterday.
Danovo, which was evicted from its premises on the South Bank last year, will be investigated by a liquidator after Mr Saatchi refused to pay a £1.7 million bill to his former landlords, Cadogan Leisure Investments.
Lawyers for the millionaire art collector, whose patronage kickstarted the careers of Damien Hirst and Tracey Emin, had unsuccessfully sought an adjournment to negotiate a full and final settlement, which has so far not been accepted by Cadogan. Relations between Mr Saatchi and his landlords broke down in 2003 after a dispute about sculptures placed in hallways in the County Hall building, and the row culminated in the gallery’s eviction in October.
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