The Koenigs Collection of Old Master drawings was transferred during the course of World War II from private ownership to the German government. Most of the collection recently appeared in the Pushkin Museum in Moscow. The author examines the validity of these transfers and the proper ownership of the collection today from both a public and private international law perspective. The dispute as to ownership between Russia and the Netherlands and the role of the German government is a difficult one to resolve, particularly in light of current claims for war reparations and recent developments in international law concerning the transfer of cultural property.