College will appeal judge's ruling; injunction not in effect until bond is posted
11/9/2007 1:29:45 PM
Dear Randolph College Community,
Lynchburg Circuit Court Judge Leyburn Mosby, Jr. yesterday denied the College’s motion to dismiss a case seeking a temporary injunction against the sale of four paintings, and he granted a temporary injunction against the sale subject to the plaintiffs posting a $10 million bond. The injunction will not take effect until the bond is posted. If the bond is not posted before the auction date, the injunction is not in effect, and the College is not prohibited with proceeding with the sale.
The College will file an expedited appeal of the decision with the Virginia Supreme Court. Until the requirements for injunction are met and until we receive a final ruling from the Supreme Court, the College will continue plans for auction.
The College will vigorously defend its position in court and believes the Virginia Supreme Court will find in favor of the College and the right of the Board of Trustees to make the decisions that are in the best interests of the College as a whole.
Even if the Supreme Court were to uphold the temporary injunction, the College would still have the opportunity to defend its right to sell the paintings in a full legal proceeding, although any sale would be at a future date.
Everyone in the community has experienced the challenges and difficulties of the past year. I assure you that the Board of Trustees and the administration of this College are committed to doing everything necessary to ensure the future of this institution. We will continue to update you as there is more information.
John E. Klein
CONTACT: Brenda Edson, Director of Communications