Art Law Report Header-1

First Week of Corcoran Cy Prés Hearing Wraps Up, Focus is on Financial Condition and Other Alternatives to Proposed Merger

Posted by Nicholas O'Donnell on August 1, 2014 at 6:35 AM

Judge Robert Okun closed the first week of hearings yesterday on the proposed modifications to the Corcoran Gallery and the Corcoran Gallery of Art + Design in Washington, DC. The Corcoran’s trustees have petitioned the DC Superior Court for cy prés, to modify the trust that governs the two institutions to allow mergers with the National Gallery and George Washington University. All told, reports indicate that both sides have made strong presentations of the financial hardship on the one hand, and the possibility that the proposal may not be the only way out of this on the other.

Read More

Topics: Linda Daschle, Deaccession, Kenneth Duberstein, George Washington University, William “Billy” Martin, University of Maryland, Adrian M. Fenty, Wayne Reynolds, Cy Pres, Corcoran College of Art + Design, Catherine Merrill Williams, Wallace D. Loh, Buffy Cafritz, Lauren Stack, Frank Connor III, Trusts, The Washington Post, Corcoran Gallery, Museums, Susan Molinari, Harry F. Hopper III, National Gallery, Graham Holdings, Richard Okun, Marcus Brauchli

Sullivan logo

About the Blog

The Art Law Report provides timely updates and commentary on legal issues in the museum and visual arts communities. It is authored by Nicholas M. O'Donnell, partner in our Art & Museum Law Practice.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.

Meet the Editor

Subscribe to Blog

Recent Posts

Posts by Topic

see all