"Head of a Young Woman" will be transported by Spain's Guardia Civil in a special-purpose aircraft carrying officials from the country's Ministry of Culture. The painting will be deposited at Madrid's Museo Reina Sofia under judicial oversight until the case is resolved.
In May, Spain's National Court upheld an order prohibiting the painting from being taken out of the country on the grounds that it has unmeasurable cultural value and is considered a national treasure. The work, with an estimated value of 26 million euros, was bound for Switzerland when it was seized by customs agents in a port on the island of Corsica on July 31, according to French authorities.
Lawyers representing Botin argue that he did not violate Spanish law on art exports because the painting was acquired abroad and its permanent address is a British-registered yacht, where it was seized. Botin bought it in 1977 in London for his personal collection.
"The painting was painted abroad, purchased abroad and has since had a permanent address abroad," Botin's lawyer, Rafael Mateu de Ros, said in comments to the media. "Therefore, it could have not been exported, legally or illegally."
Botin, the brother of late Banco Santander Chairman Emilio Botin, is the largest shareholder of Bankinter, Spain's seventh largest bank, where he was chairman until 2002.
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