In 1993, the Guggenheim Foundation, Mrs. Rachel Lubell, and other interested parties reached a settlement regarding a Marc Chagall painting that had been stolen from the Museum and purchased by Mrs. Lubell almost thirty years prior. Though a trial court had originally held the Guggenheim’s suit seeking recovery was time-barred, the Appellate Division reversed the lower court’s decision and clarified New York’s “demand and refusal” rule. On remand, the parties settled just one day after the new trial began.
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