TBA Law Blog

Posted by: Stacey Shrader Joslin on Aug 3, 2012

After seven years and several court appeals, an agreement between Fisk University and Wal-Mart heiress Alice Walton to sell a half-share of the $60 million Alfred Stieglitz Collection was finalized in Davidson County Chancery Court yesterday afternoon. The plan calls for rotating the collection between Walton’s Crystal Bridges Museum of American Art in Fayetteville, Ark., and Fisk every two years. Fisk will receive $30 million in cash in exchange for the half-share but will set aside $3.9 million in a charitable fund to cover costs of maintaining the collection. State Attorney General Robert Cooper had challenged the agreement, claiming it violated the will of artist Georgia O’Keefe who donated the collection to Fisk in 1949. The Nashville City Paper reports