An article by Atty. David J. Correira entitled “The Lady in Gold” has been published in the March, 2016 edition of Trusts & Estates.
From the article, “Since 2006, ‘Adele Bloch Bauer I’ (also known as ‘The Lady in Gold’ and ‘Adele I’) by Gustav Klimt has been on exhibit at the Neue Galerie in New York City, after having been purchased by Ronald S. Lauder for $135 million. The painting is an oil on canvas with gold and silver and is 54 inches by 54 inches. It arrived at the gallery after an arbitration decision in Austria to return the painting to Maria Altmann, the niece of Adele and the sole surviving direct heir of Adele and Ferdinand Bloch-Bauer. The history of the painting spans over 100 years of social, political and legal intrigue, revealing the tragic consequences of the 1938 Nazi Anschluss into Austria, the confiscation of property and artwork of the Jewish population and over 50 years of deceit by the Austrian government to hide the true nature of the ownership.” The case highlights the impact of private international law on trusts and estates.
For the full text of the article, click here.