|"Portrait of Wally", by Egon Schiele|
Both the Leopold Museum and the Museum of Modern Art which had received the loan of the work opposed the legal action, arguing that it would chill the movement of works of art for traveling exhibitions.
From the press release of Herrick, Feinstein here are the details of the settlement:
(a) the Leopold Museum pays the Estate $19 Million;(b) the Estate releases its claim to the Painting;(c) the United States Government dismisses the civil forfeiture action it brought against the Leopold Museum and releases the Painting to the Leopold Museum;(d) the Leopold Museum will permanently display signage next to the Painting at the Leopold Museum, and at all future displays of the Painting of any kind that the Leopold Museum authorizes or allows anywhere in the world, that sets forth the true provenance of the Painting, including Lea Bondi Jaray’s prior ownership of the Painting and its theft from her by a Nazi agent before she fled to London in 1939; and(e) before it is transported to the Leopold Museum in Vienna, the Painting will be publicly exhibited at the Museum of Jewish Heritage -- A Living Memorial to the Holocaust, in New York, beginning with a ceremony commemorating the legacy of Lea Bondi Jaray and the successful resolution of the lawsuit.
For all of my posts dealing with this dispute, see here.