DutchNews.nl - Now ABN Amro claims Reijtenbagh art

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Now ABN Amro claims Reijtenbagh art

Wednesday 22 April 2009

The ownership battle for a 17th century painting of Amsterdam became more complicated on Wednesday when ABN Amro went to court saying it too owned the painting.

The painting of the Herengracht by Gerrit Berckheyde has been part of the Rijks museum's collection since last year, when it bought it from multimillionaire Louis Reijtenbagh for an undisclosed sum.

But last Friday it emerged that US bank JP Morgan Chase is claiming the painting which it says was given in collateral for a loan.

Now it transpires ABN Amro was also given the painting and other works of art as security.

According to Nos tv, Reijtenbagh has not defaulted on the loan from ABN Amro but wants to make sure that the collateral is secured.

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Readers' comments

How can the collateral be secure? It's already been sold off!

By Geuzen76 | April 22, 2009 6:04 PM

It seems the old adage remains true: it's only 'fools who are easily parted from their money': not multi-millionaires, nor bankers, who cling to theirs like limpet mines cling to the bottoms of ships.

By Michael Dawkes | April 23, 2009 10:54 AM

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