One of the most glamorous figures in the London art scene is the subject of a £3 million High Court writ over allegations that she purchased two contemporary works for a client who was unable to pay for them.

Olyvia Kwok successfully bid for "Water-Worshipper" by Jean-Michel Basquiat and "Idilli" by Cy Twombly at Sotheby’s.

Miss Kwok runs an art and jewels investment firm for clients “who tend to be individuals or families with a net worth in excess of $30 million” and made her bids at the sale in February.