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Leopold Museums pays $19 million to keep Egon Schiele's portrait of 'Wally'

21st Jul, 2010

Austria's Leopold Musuem paid $19 million to the heirs of the Jewish art dealer Lea Bondi Jaray to settle a decades long dispute over Egon Schiele's portrait of his lover Wally, stolen by the Nazis in the 1930s.

A U.S. district attorney seized 'Wally' in 1998 on suspicion that it as stolen after the painting had been on exhibition at New York's Museum of Modern Art. For the past 12 years, the dispute has been enmeshed in the U.S. court system and was about to go to trial in Manhattan on July 26. Read the full article.