I am still trying to digest this one Peter Spaeth posted yesterday.
From the NY Daily News
Allen says the matter is out of his hands. The responsibility to pay consigners and other creditors belongs to Mastro Auctions, which was owned by Silk Road Equity. Silk Road has a small stake in the new auction business, Allen adds, but Legendary Auctions is a completely separate entity from Mastro Auctions. "I will share their frustrations until everybody who did business with Mastro Auctions is made whole," Allen says. "I wish we could meet those old obligations and start with a clean slate. But legally, we have done everything appropriate."
I was remaining neutral with regards to my stance on the Mastro/Legendary issues however the above is completely distasteful and unacceptable. If Doug is being quoted accurately his days are numbered in the hobby.
|