April 24 (Bloomberg) -- Heirs of Russian artist Kazimir Malevich settled a dispute with the city of Amsterdam's Stedelijk Museum, getting five paintings in return for the right to keep the remaining Malevich works in the city's collection, the two parties said in a press release.

In 2003-4, when the Stedelijk showed 14 Malevich paintings in the U.S., the artist's heirs claimed ownership of the paintings before a U.S. court. The heirs said that the original seller, German architect Hugo Haring, had no right to sell the paintings to the city of Amsterdam in 1958.

Today's settlement ends the dispute, the release said. The city will retain the remaining works, and the heirs will withdraw their U.S. action permanently, the press release said.

``It is a tribute to all of the parties that we were able to find a fair solution to such a complicated problem,'' an unnamed representative of Malevich's heirs was quoted as saying in the press release.

Amsterdam Mayor Job Cohen said the remaining works -- he did not say how many there were in the collection -- would be ``given a place of honor'' when the museum reopens in December 2009.

To contact the reporter on this story: Farah Nayeri in London at Farahn@bloomberg.net.

Last Updated: April 24, 2008 12:03 EDT