Estate Planning

Lord Beaverbrook's Legacy

By Hull & Hull LLP

A lengthy battle over ownership of 85 valuable works of art has ended recently, with a Canadian art gallery being allowed to keep the majority of the works.

As reported in the Toronto Star and the National Post, an appeal from a 2007 arbitrator's decision (former Supreme Court of Canada Justice Peter Cory) was dismissed.

The UK based Beaverbrook Foundation had claimed that the paintings were on loan only, whereas Beaverbrook Art Gallery of Fredricton  claimed that the art was gifted by Lord Beaverbrook in the 1950s.   Paintings sent to the gallery before 1959 were found to be gifts, whereas 48 works sent after 1959 (about 10% of the value of the collection) were found to be loans, and are to be returned.

Thank you for reading.

Paul Trudelle
 

Paul Trudelle - Click here for more information on Paul Trudelle.

Full post as published by Toronto Estate Law Blog on September 15, 2009 (boomark / email).