February 28, 2020
Money would help pay victims of sexual abuse
“Norman Rockwell is really an American icon. He hits the heartstrings of people when they see it. His images resonate with nostalgia.” Barbara J. Sussman an accredited member of the American Society of Appraisers
Potentially worth millions, artwork could be at risk of liquidation to satisfy creditors. Buried in the fine print of a document filed as part of the Boy Scouts of America bankruptcy last week is a brief mention of a potentially huge asset: “original Rockwell paintings.”
The disclosure that the organization owns works by Norman Rockwell, the American painter and illustrator, is hardly a surprise since the artist and Scouts have been linked for more than a century. But the acknowledgment of those valuable assets, potentially worth millions to creditors, could set off a legal fight over their future.
With the Boy Scouts estimating they’ll face about 1,700 lawsuits over alleged sexual abuse dating back decades, the nonprofit is under pressure to sell off its holdings to pay victims. By filing for bankruptcy, the organization has tried to provide itself a path to carry out that process in an orderly way.
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