Swiss billionaire’s enforced art collection auction halted
The auction of a Swiss billionaire’s art collection has been cancelled at the last minute after a CHF6 million ($6.5 million) tax evasion penalty was settled.
This content was published on
1 minute
swissinfo.ch/mga
The Swiss courts had previously found Urs Schwarzenbach guilty of evading taxes by illegally importing works of art into the country.
The works, including those by Gerhard Richter, Keith Haring, Andy Warhol and the Russian gold and silversmith Fabergé, were due to be sold off on Tuesday.
But the auction was cancelled the day before the billionaire’s collection was due to go under the hammer.
Schwarzenbach has always denied wrongdoing but lost his most recent court case in March.
He is still being pursued by the Swiss authorities for further millions for the art import scam that took place between 2008 and 2013.
Switzerland abstains from vote on Palestinian bid for full UN membership
This content was published on
On Friday, Switzerland abstained from the vote at the General Assembly on granting the Palestinians new rights at the United Nations (UN).
Protein in abdominal fat could help shape obesity treatment
This content was published on
The study analysed fat cells from different locations in the body, and found that those in the abdomen have unique properties.
North African asylum claims fall after rapid Swiss processing
This content was published on
The accelerated procedure, now out of its test phase, has resulted in a significant drop in applications from North African countries.
This content was published on
The artist's song "The Code" focuses on their journey as a nonbinary individual. It is one of the favourites to win this year's contest.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss justice: Art collector must pay CHF11.4 million arrears on VAT
This content was published on
Art collector Urs Schwarzenbach has been ordered to pay CHF11.4 million ($11.5) in value added tax (VAT) arrears by Switzerland's highest court.
Swiss billionaire given heavy fine for illegal art imports
This content was published on
A Swiss court has fined billionaire Urs Schwarzenbach CHF4 million for failing to properly declare some 200 artworks imported into Switzerland.
Customs seize Swiss billionaire’s artworks over tax row
This content was published on
Swiss customs have seized artworks belonging to billionaire Urs Schwarzenbach from his Dolder Grand Hotel in Zurich linked to a row over unpaid tax.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.