Fisk President: School Will Close Without Art Sale
NASHVILLE, Tenn. (AP) - Fisk University President Hazel O'Leary testified that the cash-strapped school will be forced to close its doors if a Nashville court does not let it sell 50 percent of the Stieglitz art collection.
O'Leary, testifying Thursday in a trial that will determine the fate of the collection that was donated to the school by artist Georgia O'Keefe, said she didn't know how long the school could survive without the money. Attorneys Argue Over Sale Of Fisk Art Collection
"Fisk needed the money, it was struggling for the life and it was the best opportunity to survive a year and plan for what could happen in the next year," said O'Leary on the stand.
The school is asking the Davidson County Chancery Court for permission to sell a share of the collection with the Crystal Bridges Museum in Bentonville, Ark., for $30 million.
The state of Tennessee is trying to block the deal, arguing that O'Keefe donated the prized collection for the benefit of Fisk students and local citizens, not to use it to leverage money.
(Copyright 2010 by The Associated Press. All Rights Reserved.)