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
Continue Reading UPDATE – Dispute over Ownership of Nazi Victim’s Art Turns to Pre-judgment Interest

On January 1, 2021, Congress voted to override President Trump’s veto of the National Defense Authorization Act for Fiscal Year 2021,[1] which includes provisions that will have significant implications for the antiquities market, and could eventually impact the art market as well.

The New Legislation Extends Bank Regulations to
Continue Reading National Defense Authorization Act Imposes Anti-Money Laundering Regulations on Antiquities Market and Calls For Study on Role of Art Market in Money Laundering

On December 16, 2020, Judge Denise L. Cote of the U.S. District Court for the Southern District of New York found that London-based auction house Phillips Auctioneers (“Phillips”) properly terminated its agreement governing the auctioning of a Rudolf Stingel painting for force majeure after postponing its spring auctions in the
Continue Reading Southern District of New York Finds that Phillips Auction House Properly Invoked Force Majeure Clause to Terminate Consignment and Guarantee Agreement in the Midst of the COVID-19 Pandemic

On December 15, 2020, Judge Lorna Schofield of the United States District Court for the Southern District of New York dismissed a Manhattan art gallery’s claims for insurance coverage for losses suffered as a result of the gallery’s suspension of business operations during the COVID-19 pandemic.[1]  The decision—one of
Continue Reading Southern District of New York Dismisses Art Gallery’s Insurance Claims for COVID-19 Business Interruption Losses

On December 27, 2020, as part of the omnibus spending and COVID-19 relief bill (the Consolidated Appropriations Act, 2021), President Trump signed into law the Copyright Alternative in Small-Claims Enforcement Act of 2020 (the CASE Act of 2020), which establishes a small-claims tribunal within the U.S. Copyright Office to adjudicate
Continue Reading COVID-19 Relief Legislation Includes the CASE Act of 2020, Establishing a Small-Claims Tribunal Within the U.S. Copyright Office

On November 24, 2020, parties to the 5Pointz litigation filed a Stipulated Settlement Agreement Resolving Plaintiffs’ Motion for Attorneys’ Fees and Costs (the “Agreement”), under which the defendant real estate developers agreed to pay over $2 million in attorneys’ fees and court costs to counsel for the aerosol artists of
Continue Reading Update: Attorneys Representing Artists in 5Pointz Litigation to Receive Over $2 Million in Attorneys’ Fees

On November 2, 2020, Judge Allyne Ross of the Eastern District of New York dismissed copyright claims brought by Danish photographer Michael Barrett Boesen against a sports website for its use of an Instagram post by former top-ranked tennis star Caroline Wozniacki that itself used a photograph by Boesen.[1]
Continue Reading Defendant Prevails on “Fair Use” of Embedded Instagram Post

The New York Times reported on Tuesday, November 10, that the Metropolitan Museum of Art elected Candace K. Beinecke as co-chair of its board of trustees, making her the museum’s first female chair.  Ms. Beinecke, the senior partner and former chair of Hughes Hubbard & Reed, will jointly lead the
Continue Reading Met Museum Elects Hughes Hubbard’s Candace K. Beinecke as its First Woman Chair

On October 30, 2020, the U.S. Department of the Treasury, Office of Foreign Assets Control (“OFAC”), which administers and enforces American economic sanctions, issued an advisory titled “Advisory and Guidance on Potential Sanctions Risks Arising from Dealings in High-Value Artwork” (the “Advisory”).  OFAC considers “high-value” any artwork valued at over
Continue Reading OFAC Issues Advisory on Sanctions Risks in Dealing with High-Value Artwork

For nearly 80 years, Berlin’s Kunstgewerbemuseum, or the Museum of Decorative Arts (formerly the Schlossmuseum), has displayed a collection of medieval religious artwork known as the “Guelph Treasure.”[1]  The museum describes the art, estimated to be worth over $250 million, as “the highlight, the center, the heart of
Continue Reading An Uncertain Fate for the Guelph Treasure

This month, in Cohen v. G&M Realty L.P., the U.S. Supreme Court denied certiorari to Jerry Wolkoff’s GM Realty, which had urged the Court to strike down certain “unconstitutionally vague statutory provision[s]” of the Visual Artists Rights Act of 1990 (“VARA”) on the basis that they leave “property owners
Continue Reading Update: Certiorari Denied in 5Pointz Appeal