Interesting move in the Randolph College chess game yesterday. According this report from Christa Desrets in the Lynchburg News & Advance, the school withdrew (without prejudice) its petition having to do with the Louise Jordan Smith trust, narrowing the focus of the legal fight to the four specific paintings it has been trying to sell (which were not purchased by the trust). Those four paintings had been scheduled for sale this month at Christie’s, until the Virginia courts granted opponents of the sale a six month injunction, subject to their posting a $1 million bond by this coming Monday. As Desrets notes:
"In September, opponents to the sale ... filed a motion to intervene in response to the college’s litigation regarding the Smith trust. They asked the court to declare that the entirety of the collection is interconnected and should be protected from sale or sharing. Because the college has withdrawn its suit on the matter, [a Randolph spokeswoman] said, that response litigation becomes a 'moot point.'"
