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AMERICAS Anti−Money Laundering Compliance Bill for the Antiquities Market The proposed legislation, officially called the Corporate Transparency Act of 2019, passed the House of Representatives on October 22 and is now being reviewed by the Senate’s Committee on Banking, Housing, and Urban Affairs. The bill is part of a broader effort to combat money laundering and terrorist financing in the United States and Europe.…
UNITED STATES Mercedes-Benz Suit Against Street Artists Allowed to Proceed Mercedes-Benz brought a declaratory judgment action against four street artists who saw their work prominently displayed on social media as background for the automaker’s G-Class track ads. Mercedes is seeking a declaration that its use of the artworks was not a copyright infringement as it was either fair use or because the claim is precluded by the Architectural Works Copyright Protection Act (1990). …
Just a few days after the Second Circuit held that New York’s Metropolitan Museum of Art could keep in its collection the monumental work by Pablo Picasso entitled The Actor, New York’s Appellate Division, First Department, upheld the return to the heirs of the original owners of art allegedly looted by the Nazis during World War II. Both of these recent decisions touch upon the Holocaust Expropriated Art Recovery Act (HEAR Act), the 2016 legislation…
On June 26, 2019, the Second Circuit upheld the 2018 decision of the United States District Court for the Southern District of New York that allowed New York’s Metropolitan Museum of Art (the Museum) to keep in its collection the monumental work by Pablo Picasso entitled The Actor, 1904−1905. The work was originally owned by Paul Friedrich Leffmann, a successful German-Jewish entrepreneur, who owned a manufacturing business and multiple properties as well as a sizable…
UNITED STATES Claude Monet’s Haystacks Painting Sets a New World Record for the First Impressionist Work to Sell for More than $100 Million at Auction The Meules (Haystacks) painting (1890), part of the Haystacks series by the celebrated French Impressionist Claude Monet, is one of the most recognized images in art history. Last week, the work sold at an auction in New York, breaking records for the most expensive work by the artist ever sold and for…