In the News: In Nazi-Looted Art Case, Judge Rules Prejudgment Interest Owed by Wrongful Possessor Who Continued to Litigate

“This is a monumental sea change,” said Raymond Dowd, the lawyer for Jewish heirs, of the Manhattan Supreme Court-issued decision on prejudgment interest. “An art dealer or a museum refusing to stop now has a meaningful _financial downside,” he said, when they continue to litigate cases in which a trial court has already awarded possession of Nazi-looted art back to the family or heirs of a Jewish person who’d rightfully owned the artwork before Nazis took it away.

“Das ist eine dramatische Veränderung”, sagte Raymond Dowd, der Anwalt der jüdischen Erben, über die Entscheidung des Obersten Gerichtshofs von Manhattan zu den Vorfälligkeitszinsen. “Ein Kunsthändler oder ein Museum, das sich weigert, damit aufzuhören, hat jetzt einen bedeutenden finanziellen Nachteil”, sagte er, wenn sie weiterhin Fälle prozessieren, in denen ein Gericht den Besitz von NS-Raubkunst bereits der Familie oder den Erben einer jüdischen Person zugesprochen hat, die das Kunstwerk rechtmäßig besessen hatte, bevor die Nazis es wegnahmen.

In Nazi-Looted Art Case Judge Rules Prejudgment Interest Owed by Wrongful Possessor Who Continued to Litigate _ New York Law Journal_epdf
In Nazi-Looted Art Case Judge Rules Prejudgment Interest Owed by Wrongful Possessor Who Continued to Litigate _ New York Law Journal

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