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A New York art dealer and a German heir to a consumer products giant have settled a custody dispute that involved their 8-year old daughter, art, real estate and cash.
49-year old art dealer Venetia Kapernekas had filed suit in federal court in Manhattan stating that she wanted two Damien Hirst sculptures as part of a settlement between her and Udo Fritz-Hermann Brandhorst, an heir to Germany’s Henkel AG & Co, which produced products such as Loctite glue.
Brandhorst, a known art collector in Germany, reportedly met Kapernekas in 1997 an art dinner in Cologne, Germany. The couple was not married. Brandhorst’s wife Anette died of cancer in 1999.
According to the settlement, Kapernekas will receive the two Hirst sculptures valued at $47.6 million, a one time payment of $100,000, an education fund of $500,000 for her daughter, a Manhattan loft valued at $5 million (which will be in the name of the daughter), $640,000 in legal fees and $5000 per month in child support. The bottom line of this agreement is about $54 million.
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