Barnes Foundation Hit With New Lawsuit after Former Barnes CEO Admits that Foundation Not Fully Bankrupt

The Friends of the Barnes Foundation have filed a new petition to Pennsylvania’s Superior Court on Monday, following the public admission of former Barnes CEO Kimberly Camp that “bankruptcy was not the reason” for the relocation.

Camp wrote on her blog:

“The Barnes has always belonged in Merion. Its circumstance required its relocation. That circumstance was not bankruptcy. I shared that fact with a reporter a few weeks before the opening, and he told me that I had dropped his jaw. Bankruptcy was not the reason we filed the petition to move the Foundation to the city. At the time the petition was filed, the Barnes Foundation had a cash surplus and we had no debt — none. But, saying so made the rescue so much more gallant.”

This admission has shocked and angered many, spurring this most recent lawsuit. The group is asking for a new hearing “since apparently false information was presented.” However, whether bankrupt or not, Judge Ott’s opinion from the initial lawsuit stated clearly that “what has been established beyond peradventure is that the Foundation’s finances have reached a critical point.”

It remains to be seen how this lawsuit will play out in light of Camp’s public statements.

More more information, see: Art Info, The Art Law Blog, The LA Times

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