Stibbe advises ABN AMRO in its conflict with Louis Reijtenbagh and JP Morgan Chase
The conflict relates to a EUR 50 million loan agreement by ABN AMRO to Mr. Reijtenbagh, for which various works of art (including paintings by Rembrandt, Van Gogh and Picasso) were pledged as collateral. JP Morgan Chase claims certain works of art as collateral for a loan it provided to Reijtenbagh. ABN AMRO was first to seize the litigious works of art. JP Morgan Chase's claim in relation to the seized works of art was dismissed in summary proceedings before the District Court in Amsterdam.