Country Music HOF Settles Suit With McLean Estate
January 5, 2009 at 7:52 AM (PT)
After more than a year of negotiations, the COUNTRY MUSIC HALL OF FAME AND MUSEUM in NASHVILLE has reached a $750,000 settlement with the estate of the late philanthropist BOB McLEAN, reports THE TENNESSEAN.
ROBERT WALDSCHMIDT, Trustee for the ROBERT W. McLEAN BANKRUPTCY ESTATE, had sought to recover approximately $1.54 million from the MUSEUM. The amount represented McLEAN's total cash payments to the MUSEUM, plus the value of two JOHNNY CASH guitars that McLEAN purchased outright and donated to the MUSEUM's collection.
As an alternative, WALDSCHMIDT had asked the court to order the surrender of the instruments so they could be sold to satisfy the claims of McLEAN's creditors.