A scion for the Rothschild family demands Vienna: "As if the Nazi laws still exist"

Joffrey Hoggett, one of the descendants of the famous Jewish family and prominent New York investor, is demanding that the municipality re-establish the fund that was dismantled by the Germans. "Vienna acts as if the Nazi confiscation laws are still in effect"

A scion for the Rothschild family demands Vienna: "As if the Nazi laws still exist"

A scion for the Rothschild family is suing the Vienna Municipality on charges of "perpetuating" the Nazi laws that impoverished the Jewish Bankers Family Fund. According to local media, the lawsuit - around the forgotten trust fund set up to provide psychiatric assistance - is one of the largest ever filed by descendants of Nazi victims.

A lawsuit will be heard in a court in Austria on February 20. "Vienna is acting as if the Nazi property confiscation laws are still in effect," the lawsuit filed by lawyer Joffrey Hogt, a descendant of Nathaniel Freier's Rothschild's younger brother, says.

Rothschild, a member of the Austrian branch of the rich family originally from Frankfurt, left a € 100 million estate upon his death in 1905 to provide psychiatric assistance for those in need. The foundation was established in its name and was initially run by a committee of 12 family members, which ran two convalescent homes, one of which currently operates as a neurological center.

The Nazis annexed Austria in 1938, expelled the Rothschild family that year and dismantled their 1939 fund. After World War II, in 1956, the fund was re-established by the municipality and was no longer run by the commission.

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The Nazis expelled the family from Austria. Albert Rothschild Palace in Vienna (Photo from Wikipedia)

Albert Rothschild Palace, Vienna (Photo: Wikipedia, official website)

Hoggett, a prominent New York investor and one of the donors of candidate Pete Bootidge in the Democratic primaries, argues the fund should be placed under an independent executive committee again. He accuses the municipality of distributing the fund money in contravention of its founder's will.

He also demands the cancellation of a sale deal for one of the early 2000s, which operated in the palace and is described as one of the world's first mental health centers. According to the Financial Times, Hogt said the sale was made at an excessive discount for the town. He also demands to repeal a 2017 clause that states that if the fund is disbanded, its capital will go to the city fund.

The municipality's defense attorney said the agreement regarding the fund was made a few decades ago, "with the utmost respect and definitely according to the purpose of the fund."

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This is not the first case to reveal Austria's coping with its problematic past. In 2016, following a lengthy controversy, the famous Leopold Museum in Vienna reached an agreement with the descendants of the Jewish owner of five paintings by the Austrian painter Egon Schiele, looted by the Nazis.

Since passage in 1998 of a law covering the restoration of many artworks stolen by Germany, thousands have been restored, including works worth millions of euros.