Kazuo Okada (岡田和生), founder of Universal Entertainment Corporation, has filed a lawsuit against his former wife seeking the return of 4 Western paintings worth approximately ¥750 million and damages. His former wife claims that she owns the paintings as gifts.
Kazuo Okada (岡田和生), founder and former president of major pachinko and pachislot maker Universal Entertainment Corporation, has sued his former wife, Ms. A, seeking the return of artworks worth approximately ¥750 million, including 4 paintings by artists such as Chagall and Renoir, as well as damages.
His former wife claims that the paintings at issue were purchased and provided as gifts from a group of works whose purchase she was encouraged to make during gallery visits in Los Angeles and Las Vegas at the time of their marriage in 1999.
Mr. Okada's side is pursuing the lawsuit on the premise that the gifts were valid, but it has reportedly made no mention of certificates of authenticity, which are considered important evidence in court. The handling of formal certificates authenticating the paintings, including their genuineness, could become an issue.
Although Mr. Okada owns an extensive art collection, it is centered on East Asian art from China, Japan and Korea, and some have pointed out that purchases of Western paintings such as those by Renoir and Chagall are rare for him. Further developments may depend on the course of the case and the authentication results.