Bouvier Affair

Yves Bouvier

The Bouvier Affair was a number of international lawsuits that started in 2015, and subsequent events. The lawsuits, initiated by Russian oligarch Dmitry Rybolovlev,[1] allege that Swiss art shipper and dealer Yves Bouvier defrauded him by misrepresenting the original cost of art works and subsequently overcharging them.[2] The affair has played out in courts in Monaco, Switzerland, France, the United States, Hong Kong and Singapore.

Since beginning legal proceedings against Bouvier in 2015, authorities have dismissed lawsuits filed by Rybolovlev in Singapore, Hong Kong, New York, Monaco, and Geneva.[3] The US has also dropped its investigations into Bouvier.[4]

In December 2023, the Geneva Public Prosecutor's Office closed the criminal investigation against Bouvier, citing that it did not find "any evidence allowing sufficient suspicion to be raised against the defendants (Bouvier)."[5]

In the same month, both parties reached an agreement and set aside all their remaining legal disputes in all jurisdictions. The settlement was described by Bouvier's lawyers as a "complete victory."[6]

Rybolovlev, who initiated the lawsuits against Bouvier, has since been under criminal investigations in Monaco, Switzerland, and France in relation to the case. In Monaco, he was arrested and investigated for allegedly instrumentalizing and corrupting public officials to influence the case against Bouvier.[7]

  1. ^ Mulholland, Rory (26 February 2015). "Monaco FC owner Rybolovlev among alleged victims of huge art scam". ISSN 0307-1235. Retrieved 29 August 2018.
  2. ^ Bakare, Lanre. "This article is more than 3 years old Bouvier affair: Swiss prosecutors to close legal dispute over art". The Guardian. Retrieved 14 June 2024.
  3. ^ Kinsella, Eileen. "Russian Billionaire Dmitry Rybolovlev Testifies in Contentious Sotheby's Trial". Artnet. Retrieved 14 June 2024.
  4. ^ "Dmitry Rybolovlev and Yves Bouvier settle nine-year legal feud". The Art Newspaper. Retrieved 14 June 2024.
  5. ^ "Classement de la procédure dirigée contre Yves BOUVIER". Canton of Geneva judiciary. Retrieved 14 June 2024.
  6. ^ Bowley, Graham. "Prosecutor in Geneva Drops Criminal Inquiry in $2 Billion Art Dispute". The New York Times. Retrieved 25 June 2024.
  7. ^ "Russian billionaire Dmitri Rybolovlev charged in corruption probe brought by Monaco pol". The Art Newspaper. Retrieved 25 June 2024.