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This is a correction to press release issued on 9-26-07: The World’s largest emerald, known as the BEHIA EMERALD, a l80,000-carat gem, has lit a fuse to set off an explosion of litigation, challenging the right of Gary Weiss, a prominent jewelry merchant, in the New York City 47th Street Jewelry Center, to market the jewel, pursuant to the term so a written agreement, signed before a witness, with an expert reporting that the handwriting is authentic. Larry Biegler, the owner of the jewel, has set up defenses, running the range of denial that the signature is his, to a denial of ownership of the item. Mr. Biegler has even set up a defense, that his intent was not to pay any commission on any sale for less than twenty five million dollars, despite the fact that the original memo does not contain any such limitation.
Meanwhile United States District Court Judge Paul A. Crotty has issued an order to show cause to determine whether a receiver should be appointed to take possession of the Jewel, giving each side opportunity to make their showiing.
A error was made in the prior press release, dated September 26, 2007, which mistakenly recited that Judge Crotty had ordered the appointment of a receiver, to which Mr. Biegler correctly took exception. However, it is difficult to understand his apprehension, given his claim that he is not the owner of the GEM! ###
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