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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Asia Pacific World Picasso's 'Absinthe Drinker' to stay with British foundation AFP - Sunday, January 10 Send IM Story Print WASHINGTON (AFP) - – The heirs of a late German-Jewish banker have relinquished all rights to a painting by Pablo Picasso, allowing a foundation set up by British composer Andrew Lloyd Webber to keep the work, a US lawyer said Friday. The descendants of Paul von Mendelssohn-Bartholdy reached an out-of-court settlement allowing the Andrew Lloyd Webber Art Foundation, based in Berkshire, England to retain ownership of the Picasso painting "The Absinthe Drinker", John Byrne, a lawyer for the heirs of the Mendelssohn-Bartholdy family said. Under the terms of the settlement, Byrne was not at liberty to discuss the terms of the deal. Last year, von Mendelssohn-Bartholdy's heirs reached settlements with the Metropolitan Museum of Modern Art (MoMA) and Solomon R. Guggenheim Museum, both in New York, allowing them to keep two other Picassos that had belonged to their wealthy predecessor. The family had argued in those lawsuits that von Mendelssohn-Bartholdy had sold the Spanish artist's paintings "Boy Leading a Horse" and "Le Moulin de la Galette" under duress as Adolf Hitler's Nazi party came to power in Germany. According to reports, von Mendelssohn-Bartholdy sent his three Picassos to Switzerland for safekeeping shortly after the Nazis came to power in Germany in 1933. Nor long afterwards, he ordered that they be sold. Von Mendelssohn-Bartholdy died in 1935. His prized paintings eventually ended up in the Guggenhim, MoMA and the Andrew Lloyd Webber Foundation, but one of his heirs, Julius Schoeps, a grandson of one of von Mendelssohn-Bartholdys sisters, sued in a bid to reclaim them. Schoeps claimed the paintings had been sold under duress and were rightfully his. The settlement over "The Absinthe Drinker", which Picasso painted in 1903, was the third out-of-court deal by the family and the third time the family had relinquished its rights to the painting at the heart of the lawsuit. Paul von Mendelssohn-Bartholdy was a nephew of Felix Mendelssohn, the composer. Recommend Send IM Story Print Related Articles "Friends" star Matt LeBlanc back to TV - as himself Reuters - Sunday, January 10 Adopted girl's fantasy life becomes series AP - Sunday, January 10 CBS chief: Prime-time Leno great for us AP - Sunday, January 10 Picasso's 'Absinthe Drinker' to stay with British foundation AFP - Sunday, January 10 Mexico transfers inmates for reported Gibson film AP - Sunday, January 10 News Search Top Stories Argentina appeals court ruling on Central Bank chief Oil talks fail between Russia, Belarus: news agencies Government hopes to cash in on devaluation in Venezuela Dozens join Sudan drumming protest in London Germany needs 'big spending cuts' to reduce deficit More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Britain faces toughest cuts for 20 years: Darling Hugh Grant sets marriage as New Year's resolution New for 2010: anti-wrinkle bras, protein undies Formula One boss launches Saab rescue bid: reports Weak US jobs report highlights sluggish recovery More Most Viewed » British priest defends urging people to shoplift Beat the blues by going to bed early: study Huge tomb found at Egypt's Saqqara pyramid More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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