Altmann said he would complete his recuperation at home rather than returning to Europe.
His personal doctor, Dino Altmann, told reporters Friday that Massa had made rapid strides.
But a lawyer for Mrs Altmann told the BBC the ruling was binding and final.
"The government never warned people of the risks of occupational pensions, " Ms Altmann said.
The paintings include one of his most famous works, a portrait of Mrs Altmann's aunt, Adele Bloch-Bauer.
"The collapse of the ASW scheme is having an awful effect on people's lives, " Dr Altmann said.
"He is to continue his recovery and return to racing as soon as possible, that's the plan, " added Altmann.
The paintings were the subject of a lengthy legal battle as the Altmann family fought to have them returned.
He secured British citizenship, but then decamped with his second wife, Lotte Altmann, to New York, and, later, to Brazil.
Her hands were strangely bent because, Mrs Altmann knew, she had a crippled finger, which she always tried to hide.
Dr Altmann said it was vital that ASW workers received money, in order to restore widespread confidence in the pensions system.
Meanwhile, pensions expert Dr Ros Altmann, the Governor of the London School of Economics, vowed to fight on to deliver compensation to the ASW staff.
So we turned to Ros Altmann, a highly respected pensions consultant.
Finally, Ms Altmann points out, pension benefits are currently means-tested.
Meanwhile, Ros Altmann, director general of over-50s organisation Saga and a former government adviser on pensions, said ministers could face a costly legal challenge if they did not make changes.
"In gratitude to the city and county of Los Angeles, which provided me a home when I fled the Nazis, and whose courts enabled me to recover my family's paintings at long last, I am very pleased that these wonderful paintings will be seen at LACMA, " said Ms Altmann.
The government has asked the committee to examine the proposals before the finalised bill is introduced - and their first group of witnesses include Age UK, Carers UK, the TUC, the Institute for Fiscal Studies, the Pensions Policy Institute, former government pensions policy adviser Dr Ros Altmann, former Labour minister Baroness Hollis of Heigham and Professor Jay Ginn (Institute of Gerontology, King's College London), Women's Budget Group.
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