A painting by Amedeo Modigliani has been sequestered by Swiss authorities in a Geneva freeport (storage facility) following a Panama Papers disclosure that exposes its ownership.

Descendants of Jewish art dealer Oscar Stettiner claim the contested painting, Seated Man with a Cane, Modigliani's work from 1918 work, was stolen in Paris by the Nazis. A grandson of the dealer has been trying to recover the $25 million work through US courts since 2011. 

The painting was missing for decades until 2008 when it turned up auction, failed to sell and disappeared from the market after its provenance provoked questions. Sotheby's then listed the owner as International Art Center (IAC).

Leaked documents, dubbed the Panama Papers, part of the millions of files taken from the Mossack Fonseca law firm, reportedly reveal that David Nahmad -- scion of the international art dealing family -- owns Panama-based IAC.

"A criminal procedure has been opened as a result of revelations tied to the Panama Papers with the goal of verifying the presence of a Modigliani in Geneva," Henri Della Casa, a spokesman for the Swiss prosecutor's office, said on Monday, according to the Canadian Broadcasting Corporation.