PDF Email Page Print Friendly Page Contact
art law: matters
Summary Professionals Matters News Events Publications
2011
Major U.S. Bank - Art Loan
Representation of a major U.S. private bank in a $110 million loan secured to by art works and Manhattan real estate.
2011
Private Bank - Art Loan Facility
Representation of the private wealth management group of one of the nation's largest financial institutions in an asset based loan facility with an art gallery secured by several pieces of artwork collateral. The transaction involved an agreement among other lenders with respect to non-shared artwork collateral.
2011
Specialty Finance Company - Art Warehouse Loan
Representation of a specialty finance company in a $10 million warehouse loan facility to an art financing lender to fund the purchase of existing loans and the origination of new loans supported by fine and decorative art, antiques and collectibles. 
2011
Xiling Group - Art Investment Fund
Representation of Xiling Group in forming a new art investment fund focusing on culturally and aesthetically important Chinese art. The fund was structured as a private equity fund with certain special features to accommodate its unique investment strategy.
2011
Stalking Horse Bidder - Acquisition of Photos from Polaroid Fine Art Collection
Representation of a successful stalking horse bidder in connection with the acquisition, from the bankruptcy estate of the Polaroid Corporation, of an extensive collection of more than 10,000 photographs from the Polaroid Fine Art Collection. Many of the photos are of museum quality and were taken by renowned photographers.
2010
Representation of Private Art Collector
Represent a private art collector in one of the largest transfers of Mesoamerican art to a museum, including the transfer and assumption of ongoing operations of the foundation dedicated to the study and advancement of Mesoamerican art.
2010
Major Financial Institution - Secured Term Loan
Representation of a major financial institution in connection with a term loan to a New York art gallery. The loan was secured by all the gallery's assets, as well as artworks from the gallery owner's personal collection.
Ongoing
Estate of Lea Bondi Jaray - "Portrait of Wally" Restitution
After over ten years of litigation, our client, the Estate of Lea Bondi Jaray, achieved a very favorable settlement in the case of United States v. Portrait of Wally, which has been credited with being one of the first to focus the world's attention on the problem of Nazi-looted art. Egon Schiele's Portrait of Wally was stolen in the late 1930's from Lea Bondi Jaray, a Jewish art dealer and collector, by a Nazi agent. The settlement compensates the heirs for the true value of the painting—$19 million—and provides for permanent signage acknowledging the painting's true provenance to be placed next to the painting after it is returned to the Leopold Museum in Vienna.
2008
Specialty Finance Company - Art Lending
Representation of a startup specialty lending company to make loans against artwork as collateral, including producing form documentation and discussions concerning credit policy and procedures.
Ongoing
Marei von Saher - Restitution of Nazi-Looted Art
Representation of Marei von Saher in her efforts to recover hundreds of Nazi-looted artworks from the collection of her father-in-law, the renowned Dutch art collector and dealer, Jacques Goudstikker.
Ongoing
Commission for Art Recovery - Baron Herzog Collection
Representation of the Commission for Art Recovery in recovering 10 paintings from the Hungarian government that were stolen from the heirs of Baron Herzog, a Hungarian aristocrat, during the Nazi regime. At Herrick's request, Senator Hillary Clinton wrote to the Hungarian Foreign Minister in support of our efforts. Senator Clinton issued a press release regarding her letter and also posted it on her website. To date, Herrick has also garnered support from Senator Lautenberg, Senator Kennedy and Congresswoman Nita Lowey.
2008
Commercial Bank - Art Loan
Representation of a major U.S. bank in a multimillion-dollar loan to a high net-worth individual, secured by the borrower's art collection.
2008
Heirs of Kazimir Malevich - Amsterdam Settlement
Representation of the heirs of the world-renowned Russian artist Kazimir Malevich in their litigation against the City of Amsterdam to reclaim artworks created by their ancestor. This litigation was successfully settled in April 2008 when the City of Amsterdam returned five Malevich paintings to the heirs.
2007
Art and Antiquities Dealer - Conversion Action
Representation of a London-based art and antiquities dealer in a conversion action seeking the return of a rare and valuable stone table consigned to and auctioned by an auction house in New York.
2006
Neue Galerie - Acquisition of Gustav Klimt's "Portrait of Adele Bloch-Bauer I"
Representation of Neue Galerie New York in connection with its historic acquisition of Gustav Klimt's 1907 painting "Portrait of Adele Bloch-Bauer I," which at that time was reported to be the most valuable painting ever sold.
2006
Marei von Saher - Goudstikker Collection - Dutch Restitution
Representation of Marei von Saher in her successful efforts to recover 200 artworks looted from her father-in-law, the renowned Dutch art dealer, Jacques Goudstikker, during the Second World War. The works had been held by the Dutch Government for over 50 years.
2005
Private Collector - Stolen Art Recovery
Representation of a private collector in recovering a collection stolen from an art storage facility and dispersed throughout the United States, and beyond, including Japan. We worked with the FBI Art Crime Task Force and the U.S. Attorney's Office for the Eastern District of Missouri, helping to recover the majority of the collection. The thieves were caught, prosecuted and jailed.
2005
Marei von Saher - Recovery of Nazi-Looted Painting (Edgar Degas)
Representation of Marei von Saher in connection with her recovery of a drawing by Edgar Degas ("Four Nude Female Dancers Resting") from the Israel Museum in Jerusalem, that was looted from the collection of her father-in-law, the renowned Dutch art collector, Jacques Goudstikker.
2003
Marei von Saher - Recovery of Nazi-Looted Painting (Jacopo Bassano)
Representation of Marei von Saher in connection with her recovery of a painting by the Studio of Jacopo Bassano ("The Annunciation to the Shepherds"), that was looted from the collection of her father-in-law, the renowned Dutch art collector, Jacques Goudstikker.
2002
Marei von Saher - Recovery of Nazi-Looted Painting (Anthony van Dyck)
Representation of Marei von Saher in connection with her recovery of a painting by Anthony van Dyck ("Maria Magdalena"), that was looted from the collection of her father-in-law, the renowned Dutch art collector, Jacques Goudstikker.
2002
Heirs of George Grosz - Recovery of Nazi-Looted Painting (George Grosz)
Representation of the heirs of the renowned German painter, George Grosz, in connection with their recovery of his 1929 painting entitled "Zeitideen" ("Ideas of Time").
2002
Egyptian Government - U.S. v. Schultz
Counseled the Egyptian government in connection with the successful U.S. prosecution of a defendant accused of conspiring to smuggle Egyptian antiquities.
2001
Marei von Saher - Recovery of Nazi-Looted Painting (J.W. de Cock)
Representation of Marei von Saher in connection with her recovery of a painting by the Dutch pre-Renaissance painter J.W. de Cock ("The Temptation of St. Anthony"), that was looted from the collection of her father-in-law, the renowned Dutch art collector, Jacques Goudstikker. This was the first painting from the Goudstikker collection to be restituted to the family.
2001
Henry Newman - Settlement with Metropolitan Museum of Art (Claude Monet)
Representation of a collector in the settlement of a dispute over a painting by Claude Monet in the collection of the Metropolitan Museum of Art claimed to have been stolen from a bank vault during the Soviet occupation of Berlin in 1945.
2000
Malevich Heirs - Sale of "Suprematist Composition"
Representation of the heirs of Kazimir Malevich in connection with the auction sale of a Malevich work recovered from the Museum of Modern Art, New York. The sale was noted as one of the top ten art sales of the year 2000.
1999
Heirs of Kazimir Malevich - Various Restitutions
Representation of the heirs of Kazimir Malevich, the noted early Twentieth Century avant-garde artist, in connection with the recovery of his works from the Museum of Modern Art and the Busch-Reisinger Museum at Harvard University.
1999
Republic of Turkey - Medieval Religious Artifact Repatriation
Representation of the Republic of Turkey in its recovery of an intricately carved walnut panel from the Sultan's prayer gallery of the Great Mosque in Divrigi, Turkey, built in the 13th Century.
1999
Republic of Guatemala - Mayan Artifact Repatriation
Representation of the Republic of Guatemala in the recovery and repatriation of a portion of a 1,000-year-old Mayan monument that had been pillaged from an archaeological site.
1999
Republic of Turkey - Elmali Hoard Restitution
Representation of the Republic of Turkey in recovering the "Elmali Hoard" of extremely rare ancient silver coins from a major collector.
1993
Republic of Turkey - Lydian Hoard Restitution
Representation of the Republic of Turkey in recovering the fabled "Lydian Hoard" of ancient silver artifacts from the Metropolitan Museum of Art.