LAPADA issues guidelines over US settlement cheques
LAPADA has issued some valuable guidelines to the recipients of cheques relating to the Sotheby’s and Christie’s price-fixing settlement in the USA. As the cheques began to arrive by post last week many were surprised to see that the US Federal Government had deducted a withholding tax from the awards.
The levy of around 30 per cent was raised on the grounds that the partial repayment of buyers’ and s…