Saturday, November 10, 2007

Not so fast . . . (UPDATED)

Turns out that the Randolph College paintings may not be blocked from sale after all. Seems the judge ordered the plaintiffs to post a $10 million bond in order for the injunction to take effect (typically, to get an injunction you have to post a bond, and if the injunction is later reversed the enjoined party is entitled to recover its damages, at least up to the limit of the bond, caused by the wrongful injunction). According to Christa Desrets in the Lynchburg News & Advance, the Randolph plaintiffs are trying to get the bond reduced or eliminated and, at the same time, trying to figure out how to pay it if those efforts fail. The first of the four paintings is scheduled to be sold Nov. 19.

UPDATE (Nov. 13): Lee Rosenbaum has the latest from Anne Yastremski of "Preserve Educational Choice," the group leading the charge to prevent the sales. Yastremski says "it is possible" the judge will hear argument on their motion to reduce or eliminate the bond this afternoon.