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<title>O&apos;Keeffe - Toronto Estate Law Blog</title>
<link>http://estatelaw.hullandhull.com/articles/topics/estate-trust/</link>
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<copyright>Copyright 2011</copyright>
<lastBuildDate>Thu, 11 Sep 2008 04:00:00 -0500</lastBuildDate>
<pubDate>Tue, 12 Apr 2011 14:50:54 -0500</pubDate>
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<title>Georgia on My Mind</title>
<description><![CDATA[<p>In 1949, <a href="http://www.pbs.org/wnet/americanmasters/episodes/georgia-okeeffe/introduction/55/">Georgia O'Keeffe</a> donated the Alfred Stieglitz Collection of Modern American and European Art to <a href="http://www.fisk.edu/">Fisk University </a>(&quot;Fisk&quot;)&nbsp;in Nashville, Tennessee.&nbsp; O'Keeffe, as executor of her late husband's estate, divided his collection of paintings, sculptures, prints and photographs and donated the nearly 1,000 pieces to six institutions, including Fisk.&nbsp; O'Keeffe had&nbsp;donated the collection to Fisk with the express stipulation&nbsp;that the paintings not be sold or exchanged, as evidenced by a letter written that year to then Fisk-President Charles S. Johnson.&nbsp;&nbsp;</p>
<p>In 2005, cash-strapped Fisk&nbsp;attempted to sell the paintings from the collection in order to rectify its 'troubled financial condition'.&nbsp; In court filings, Fisk officials indicated that the school would run out of operating funds by the end of 2007 without selling 50 percent of the collection.</p>
<p>In March 2008, the Court enjoined Fisk from selling the painting <em>and</em> ordered the school to put the collection on display by October 6th or forfeit the collection to the <a href="http://www.okeeffemuseum.org/home.aspx">Georgia O'Keeffe Museum</a> in Santa Fe, New Mexico.&nbsp;</p>
<p>Since then, Fisk, arguing that selling the art for a reported $30 million does not violate O'Keeffe's original intent, has filed an appeal to sell half the collection to a museum in Arkansas.&nbsp; This week, Fisk asked the appeals court to send the case back to trial court saying the judge should not have blocked the sale without a more comprehensive hearing.&nbsp; Those of you familiar with my recent <a href="http://estatelaw.hullandhull.com/2008/05/articles/topics/ethical-issues/lost-found-loaned/">Machu Picchu blog</a>, and the Beaverbrook blog trilogy of <a href="http://estatelaw.hullandhull.com/2007/03/articles/blog-posts-hull-on-estates/beaverbrook-v-beaverbrook-when-is-a-loan-a-gift/">March 2007</a>, <a href="http://estatelaw.hullandhull.com/2007/10/articles/blog-posts-hull-on-estates/beaverbrook-update-the-value-of-an-offer-to-settle/">October 2007</a> and <a href="http://estatelaw.hullandhull.com/2008/08/articles/topics/estate-trust/the-lord-beaverbrook-saga-continues/">August 2008</a> will find&nbsp; some parallels here:&nbsp; In court documents, the parties disagree as to whether the&nbsp;collection is a charitable gift as opposed to&nbsp;an asset that Fisk can dispose of at will.</p>
<p>Interestingly, the Fisk website indicates that &quot;The Alfred Stieglitz Collection is unavailable for viewing due to renovations currently&nbsp;underway&nbsp;at the Carl Van Vechten Gallery&quot;.&nbsp;</p>
<p>David M. Smith</p>]]></description>
<link>http://estatelaw.hullandhull.com/2008/09/articles/topics/estate-trust/georgia-on-my-mind/</link>
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<category>Estate &amp; Trust</category><category>Georgia</category><category>O&apos;Keeffe</category><category>art</category><category>charitable</category><category>collection</category><category>executor</category><category>gifts</category>
<pubDate>Thu, 11 Sep 2008 04:00:00 -0500</pubDate>
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