In a lawsuit filed earlier this month, Phillips, one of the world's top auction houses, claimed that a billionaire's son ...

Phillips has initiated legal action against a third-party guarantor who is late paying for a pricey Jackson Pollock painting.

David Mimran, whose father Jean Claude is worth an estimated $2 billion thanks to business ventures in West Africa and Switzerland, agreed to purchase the untitled, 1948 artwork if it didn’t ...