UPDATE – Dispute over Ownership of Nazi Victim’s Art Turns to Pre-judgment Interest
Woman in a Black Pinafore (l) and Woman Hiding Her Face (r)
Following the New York Appellate Division’s affirmance of the New York State Supreme Court’s decision in Reif v. Nagy ordering the turnover of two works of art transferred under duress, if not stolen, following the Nazi takeover of Austria to the heirs of their original Jewish owner, Fritz Grünbaum,[1] the dispute has turned to the increasingly significant issue of pre-judgment interest.
Background…