Attorney General Aaron Frey announced this morning that he has reached a resolution of all claims against the Personal Representative (PR) of the Estate of Robert Indiana and four law firms hired by the PR. The AG sued in Knox County Probate Court alleging that the PR had paid excessive fees to himself and the law firms he hired. According to the press elease AG, the overall value of the settlement totals over $2 million, the bulk of which was paid by the firms collectively in refunds and credits.
Robert Indiana, a renowned contemporary artist best known for his stacked LOVE image, died in his home on Vinalhaven in May 2018. Since Mr. Indiana’s death, his estate, administered by a PR, has been party to copyright and production rights litigatyion with longtime business partner Morgan Art Foundation and another business associate, Michael MKenzie, the American Image Art. The AG sued the PR in November 2020 to reduce the fees he had paid himself and his law firms related to those lawsuits, which totaled more han $6 mlillion at that time. By the time of these settlements, the combined fees exceeded $10 million.
The AG brought the claims against the PR and the law firms in his capacity as overseer of charitable assets because the sole beneficiary of the Estate, the Star of Hope, is a charitable organization. “Every dollar going unnecessarily to pay lawyers and the PR was another dollar unavailable to the charity to fulfill its mission and Robert Indiana’s vision,” said AG Frey. “This office is pleased our work preserved significant resources to be used for the benefit of the Star of Hope, Inc.” Mr. Indiana established the nonprofit durig his lifetime to restore his residence on Vinalhaven (by the Star of Hope,” a former Oddefellows hall located on Maine Street) to be used as a museum for his collection and an art education center.
The lawsuit with Morgan Art Foundation is now over. The lawsuit with McKenzie/American Image Art is being handled by lawyers for Star of Hope Inc. “We are pleased that the finalization of the Estate is on the horizon and that the Star of Hope can now focus on during future