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Tuesday, 13 January 2015 10:05

German Bank to Sell a Portion of its Modern Art Collection

Portigon AG's collection includes works by Joseph Beuys. Portigon AG's collection includes works by Joseph Beuys. Wikipedia

With the continued controversy surrounding the sale of two Andy Warhol paintings, "Triple Elvis" (1963) and "Four Marlons" (1966), having been sold by the Westspiel casino conglomerate. Museum directors in North Rhine-Westphalia sent a petition to the regional government in an attempt to prevent the paintings' sale at Christie's New York last November.

In the ongoing storm of protest is emerged that the casino chain Westspiel is in fact a subsidiary of the State Bank of North Rhine-Westphalia. A fact that prompted German culture minister Monika Grütters of the center-right CDU party to accuse North Rhine-Westphalia's center-left-led regional government of selling the artworks in order consolidate state debts.

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