Casino mogul Steve Wynn informed this week that Lloyd’s of London had made him an offer to settle his $54 million claim of lost value for a Picasso canvas after Wynn accidentally made a hole in it with his elbow.
“They've started to negotiate,” he said, and also made clear that he was not satisfied with the talks. “Their offer is ridiculous”. Wynn filed a lawsuit in the U.S. District Court in Manhattan claiming for reimbursement and restoration costs for Picasso’s painting “Le Reve” (The Dream).
According to Wynn, a $90,000 restoration repaired the canvas but left it flawed under black light. The millionaire also attacked the insurance industry as a whole and accused insurance companies of “irresponsible, careless, inconsiderate and deliberate evasive behavior.”
Casino mogul Steve Wynn informed this week that Lloyd’s of London had made him an offer to settle his $54 million claim of lost value for a Picasso canvas after Wynn accidentally made a hole in it with his elbow.