The estate of Jewish art dealer Oscar Stettiner has filed a new lawsuit in the New York State Supreme Court against the Nahmad family, seeking the restitution of Amedeo Modigliani’s 1918 painting "Seated Man With a Cane." The suit alleges that the $25 million portrait was looted by the Nazis in Paris and is currently held by the International Art Center, which the plaintiffs claim is a shell company controlled by the Nahmads. This legal action follows a 2012 dismissal of a similar claim by Stettiner’s grandson, Philippe Maestracci, due to a lack of standing.
This case is a high-profile example of the ongoing legal complexities surrounding Nazi-looted art and the use of offshore entities to obscure ownership. By targeting the Nahmad family's corporate structure, the plaintiffs aim to pierce the corporate veil of the Panama-based International Art Center to hold the prominent art-dealing dynasty directly accountable. The outcome could set a significant precedent for how restitution claims navigate the opaque networks of international art holding companies and freeports.