Civil Litigation
Jan. 9, 2023
Art gift leads to governance dispute at Hammer Foundation
Former secretary and treasurer were accused in the complaint, originally filed in state court of violating the bylaws of the foundation and making unilateral financial decisions without the approval of other board members.
Agents for major organizations are supposed to take initiative and don’t always have to wait for authorization, even if it involves an estimated $60 million in artwork, argued a Sherman Oaks attorney on behalf of a board member of the Armand Hammer Foundation.
“Corporations almost always have to act through their employees,” Katofsky Law founder Jeff C. Katofsky told a federal judge during a hearing Friday in Los Angeles about a motion fo...
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