A partial view of Monet’s “L’Homme à l’ombrelle.” Photo: Kunsthaus Zürich via Wikimedia Commons

The largest art museum in Switzerland announced on Wednesday that it is selling a painting by Claude Monet as part of an agreement with heirs of the artwork’s original Jewish owner, who was forced to sell it during World War II when he fled Nazi Germany.

The Kunsthaus Zürich said it reached a “fair and just solution” and “amicable settlement” with the heirs of Jewish entrepreneur Carl Sachs regarding the painting “L’Homme à l’ombrelle” (“Man with a Parasol”) from the late 19th century. Proceeds from the sale will be allocated between the museum and Sachs’ family.

Sachs and his wife fled Nazi persecution in Germany and moved to Switzerland in 1939. He was forced to sell “L’Homme à l’ombrelle,” and several other pieces from his art collection, to the Kunsthaus Zürich in order to make a living. “The sale of Monet’s ‘L’Homme à l’ombrelle’ to the Kunsthaus Zürich was the first work that Sachs had to sell due to the acute financial emergency just a few weeks after fleeing Nazi Germany to Switzerland,” the museum explained.

“A swift sale was needed to provide the couple with money to live on, and he was therefore acting under duress,” the Kunsthaus Zürich said. Sachs died shortly afterward in December 1943 and by that point he had sold 13 artworks from his collection.

Philipp Hildebrand, the chair of Zürcher Kunstgesellschaft, said: “Of course we regret that this wonderful painting will leave the Kunsthaus. At the same time, this step underpins the seriousness of our provenance strategy and our fundamental attitude towards a transparent and solution-oriented approach to works in our collection in which there are substantiated references to Nazis [or] there is a situation of a persecution-related predicament.”