Linda McCartney's family suing Stella
agcbli...@yahoo.com
Relatives of designer Stella McCartney have taken Beatles scion down
the long and winding road to court, suing her and other family members
over the proceeds from her late maternal grandfather's $48 million art
collection.
McCartney, 34, and six relatives are being sued for a share of the
money raised from the sale at Christie's last year of Lee Eastman's
impressive art collection, which included paintings by Picasso,
Matisse, de Kooning and Rothko.
The seven split the money, but now the sons of Eastman's second wife
Monique from a previous marriage argue they're entitled to a share.
They claim their mother built the collection jointly with Eastman and
that, as her heirs, they are entitled to part of the money raised from
it. Eastman died in 1991, while Monique lived until last year.
The suit claims that "during Lee's lifetime, and after his marriage to
Monique, the two of them accumulated a large collection of paintings
from well known artists, many of which today have great value. That
collection was always referred to as the collection of Lee and Monique
Eastman, and was recently referred to by Christie's as the Collection
of Lee Eastman."
In addition to Stella McCartney and her mother, Linda McCartney's three
other children, the defendants include John Eastman, Lee's son and
executor, and two other relatives.
The suit was filed on Jan. 30 in state Supreme Court.
Although details of the division of the proceeds from the sale are not
known, an equal share for McCartney - daughter of Paul McCartney -
would have amounted to about $7 million.
This would have been welcome to the designer: Her fashion label, which
she co-owns with Gucci, has accumulated losses of millions of dollars
in the five years since it started business.
Stella built her fashion label without financial support from her
father's $1.4 billion fortune. Her mother, Linda McCartney -
Eastman's daughter - died of cancer in 1998 and left her fortune to
the former Beatles bassist.
Stella's company has run up losses of $26 million in the past five
years.
Last week, her label posted losses of nearly $1.7 million for the last
trading year, although turnover had doubled to $12.7 million.
She said in a statement: "Unfortunately, as one of the seven
beneficiaries of my grandfather Lee Eastman's estate, I had no legal
say over the decision made by the estate's executors."
maryanne kehoe
years.
That's strange.....VOGUE just said her perfume AND design business was
doing well. What gives?
Fragile Warrior, F'loonslayer
"maryanne kehoe" <atl...@webtv.net> wrote in message
news:7955-440...@storefull-3256.bay.webtv.net...
Maybe losses of $25 mil was less loss than it usually was?
maryanne kehoe
I bought the "Stella" fragrance-it's understaded and not in-your-face
like a lot of the new designer scents are. She's really coming into her
own as a fashion designer, her first few collections looked "lost."
emerald...@gmail.comnospam
wrote:
I'm feeling rather generous, so I think I'll let Greg have this one to
himself. <G>
--
"Every one of the innocents who died on Sept. 11 was the most important person on earth to somebody.
Every death extinguished a world." -- President George W. Bush, 12/11/2001
Gregory Morrow
<emerald...@gmail.comNOSPAM> wrote:
> On Mon, 27 Feb 2006 17:57:41 -0500, atl...@webtv.net (maryanne kehoe)
> wrote:
>
> >>From: vol...@tds.net >(Fragile Warrior, F'loonslayer)
> >>"maryanne kehoe" <atl...@webtv.net> wrote >in message
> >>news:7955-440...@storefull-3256.ba>y.webtv.net...
> >>Stella's company has run up losses of $25 >>million in the past five
> >years.
> >>That's strange.....VOGUE just said her >perfume AND design business was
> >doing well. >What gives?
> >>Maybe losses of $25 mil was less loss than it >usually was?
> >
> >
> >
> >I bought the "Stella" fragrance-it's understaded and not in-your-face
> >like a lot of the new designer scents are. She's really coming into her
> >own as a fashion designer, her first few collections looked "lost."
>
> I'm feeling rather generous, so I think I'll let Greg have this one to
> himself. <G>
The mind B - O - G - G - L - E - S........
;-)
--
Best
Greg