For those who believe that one today is worth two tomorrows, prejudgment interest offers a significant judicial remedy.
In an unprecedented holding on July 12, 2021, the Commercial Division of the New York State Supreme Court, County of
New York, applied the prejudgment rule in favor of the rightful owners of two Egon Schiele paintings. In a case involving
family property, monetary interest can hardly compensate for time spent apart from a cherished heirloom. Still, the
court’s decision could bring heirs at least somewhat closer to recovering for the loss suffered.
German version below
20210813 - UPDATE—New York Court Awards Statutory Prejudgment Interest to Grünbaum Estate’s Heirs HHR Art Law_english20210813 - UPDATE—New York Court Awards Statutory Prejudgment Interest to Grünbaum Estate’s Heirs HHR Art Law_german