Today the Court found that Fisk had demonstrated changed circumstances which require alteration of Ms. O’Keeffe’s conditions on the Stieglitz Collection. The Court also held that the University and Crystal Bridges Museum must rework eight provisions of the proposed Crystal Bridges agreement in order for it to be considered by the court. The Chancellor has given Fisk until October 8, 2010 to refashion the Crystal Bridges Agreement to share a one-half-undivided interest in the Stieglitz Collection. The ruling also gives the Attorney General until September 10, 2010 to craft an alternate proposal providing Fisk with $30 million and an alternate Nashville location for display and maintenance of the Collection.
Fisk’s objective remains to fashion an agreement that provides both relief to Fisk and supports the Collection. The Fisk-Crystal Bridges agreement does just that by expanding accessibility to the Collection to more of the South and providing fiscal relief that we seek to begin rebuilding Fisk’s endowment. The sharing proposal, increasingly popular with galleries and museums across the globe, is an innovative arrangement that is clearly in the best interests of Fisk, Tennessee, and the South. To achieve these ends, we will follow the courses outlined in the Chancellor’s order.
Today’s ruling will have no immediate adverse impact on Fisk’s daily operations. Classes begin next week for the University and we remain focused on doing what we do best which is enhancing educational opportunities for our talented students.
For five years Fisk has fought to preserve and protect its ability to educate its students and the integrity of the Stieglitz Collection. There is no daylight between a solution that benefits Fisk, the people of Tennessee, and the nation.