News Flash: Court to Lift Injunction Against Maier Sales

Opponents to the proposed sale of four paintings from Randolph College’s Maier Museum failed to meet today’s deadline to add $500,000 to the $500,000 already posted to secure until May 10 a temporary injunction against the sale.
The Virginia Supreme Court rejected the opponents’ request that it accept $500,000 as the full amount for the temporary injunction. This means that the injunction will be lifted and Randolph could, theoretically, sell the paintings. But a trial is still scheduled for May 27-29, at this writing, on the merits of the opponents’ challenge to the sale. That impending trial would likely have a chilling effect on any possible buyers
In the college’s Feb. 13 court filing, it said:
When the temporary injunction is dissolved,…the College plans to sell the Four Paintings at its earliest and most financially advantageous opportunity. Although the College has no immediate plans to sell the Four Paintings until after the circuit court trial, the College cannot represent that it would not sell if the temporary injunction were dissolved and a willing buyer made an offer acceptable to the College’s Board of Trustees.
What’s more, Randolph indicated that it may seek damages from the opponents for delaying the sale:
The College intends to file a motion in the Circuit Court of the City of Lynchburg asking that court—in which the $500,000 was posted—to hold the bond as security for the College’s claim for damages that it is entitled to recover in a separate action on the bond once the injunction dissolves.