The city of Vienna has reportedly suffered the first setback in a dispute with descendants of the Rothschild banking dynasty, who sued the authorities over a charitable trust with assets worth up to €110 million ($130 million).
American investor Geoffrey Hoguet filed lawsuits on behalf of his family against the Austrian municipality earlier this year. The case is centered around the family’s foundation, set up by Albert Freiherr von Rothschild in 1907 and taken away from the family after the Nazi takeover of Austria. Nearly 80 years afterwards, the heirs accused the city of misappropriating the trust and benefiting from its assets.
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