Hong Kong Developer Sought Loans Backed by Picasso, Warhol Art
The family behind Parkview Group, which narrowly avoided a default in March, sought a loan earlier this year from international auction house Sotheby's, people familiar with the matter said. It was to be backed by more than 200 artworks, from the likes of Andy Warhol, Pablo Picasso, Salvador Dali and Chinese artists such as Yue Minjun, Qi Baishi and Zao Wou-ki, according to the people.
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