Gelman Collection legal battle: Santander loan sparks cultural heritage dispute

A legal challenge has been launched against Banco Santander over its management of the Jacques and Natasha Gelman Collection, a 300-piece trove of Mexican modernism including ten Frida Kahlo paintings and works by Diego Rivera and Rufino Tamayo. The group "Defensa de la Colección Gelman" filed a lawsuit arguing that the bank's agreement with the Zambrano family—specifically Marcelo Zambrano, a third-generation descendant of the Gelmans—violates Mexican cultural heritage laws. Santander announced in early 2026 it would manage 160 works from the collection, with the family retaining ownership. The Mexican government stated the collection will return to Mexico in 2028, but the deal allows international travel until 2030. The collection is currently on view at the Museo de Arte Moderno in Mexico City, and previously toured internationally, including a 2016–17 stop at Palazzo Albergati in Bologna, Italy. Santander reportedly granted Marcelo Zambrano a $150 million loan secured by the collection; if the loan defaults, the bank could potentially seize the artworks. Santander denies any illegality, asserting its role is to support conservation and public access in full compliance with Mexican law. The group demands a public museum rather than bank stewardship. An exhibition at Santander's Faro Santander in Madrid is planned for September.