Decision no. 550a/2009

In its decision no. 550/2009 of 30 June 2009, the Arbitration Panel for In Rem Restitution granted the restitution claim to one half of a property belonging to the City of Vienna in Vienna, Neubau. The property half had had to be sold by its Jewish owner Richard G. during the course of the National Socialist assumption of power. After 1945, he waived his restitution claims in exchange for a payment of 10,000 Schilling. In the opinion of the Arbitration Panel, the settlement was to be assessed as “extremely unjust”. The restitution of this half share of the property would have been to be recommended in accordance with the General Settlement Fund Law. However, as a building with municipal apartments is located on the property today, the Arbitration Panel deemed a restitution im rem impracticable and decided, upon consultation with the City of Vienna, to award a comparable asset. In order to determine the current market value of the property share, a valuation report by an independent expert was obtained. On the basis of this report, the Arbitration Panel recommended the competent Viennese Municipal Councilor for the financial administration that the applicant be awarded 1,672,000 Euro.