Durst-Backed Art Leasing Venture to Dissolve, Filing Shows (1)

Edelman Family Co. has initiated proceedings in Delaware to dissolve Artemus USA LLC, its art leasing joint venture with New York City real estate giant Durst Buildings Corp., four days after a state court judge in Manhattan found that she lacked jurisdiction over a similar bid by Durst.

Edelman and Durst “are hopelessly deadlocked” and “agree that the company should be dissolved,” but they “cannot agree on how to wind up the company absent intervention from the court,” according to the dissolution petition in Delaware’s Chancery Court.

Durst spokesman Jordan Barowitz confirmed to Bloomberg Law on Tuesday that “we are ...