Cohen v. The Republic Of The Philippines

146 F.R.D. 90 (S.D.N.Y. 1993)

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Nature of the Case

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Facts

Cohen (P) received paintings on consignment from Braemer who was an agent for Marcos entrusted to run her New York home. Breamer demanded the return of the paintings in 1992 and P refused because he was uncertain as to the true owner. P then brought an interpleader action against Braemer and the Philippines. Braemer claims that the paintings were collateral for loans made by him to Marcos. The Philippines claimed that the paintings belonged to them and that they were acquired with government funds which Marcos and her husband illegally obtained during the husband’s tenure as President. Marcos now seeks to intervene in the action claiming that the paintings were acquired from her personal funds. The four paintings totaled nearly $5 million in value. Marcos denies any kind of lien or security interest on the paintings or in the alternative she claims a right to the paintings after payment to any amounts that might be due Braemer.