The Panama Papers seem to confirm that the Nahmad family do indeed co tell the entity at the center of a restitution dispute over Modigliani’s Seated Man with a Cane. Here’s what the ICIJ says about the International Art Center which owns the painting:
The Nahmad family has controlled the Panama-based company, International Art Center, for more than 20 years, the records show. It is an important part of the family’s art business. David Nahmad, the family leader, has been the company’s sole owner since January 2014.
When confronted with documentatation that showed the Nahmads owned International Art Center, David Nahmad’s lawyer, Richard Golub, said “whoever owns IAC is irrelevant. The main thing is what are the issues in the case, and can the plaintiff probe them.”
Hiding Money: The Art of Secrecy (Modesto Bee/ICIJ)
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Marc Porter Resigns From Christie’s; Will Join Sotheby’s After Taking Leave
