Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, July 8, 2020

As Marlborough gallery winds down, the Fine Art Society reopens

Http---com.ft.imagepublish.upp-prod-us.s3.amazonaws.com-903475cc-b624-11ea-8ecb-0994e384dffeA spokesperson for the Lloyd Family Trusts, owners of the legendary Marlborough gallery, confirms that management is evaluating "the best approach to eventually winding down the gallery's operations". Marlborough, which once boasted the likes of Francis Bacon and Barbara Hepworth was founded in London in 1946 and opened in New York in 1963. 

Family relationships of those that run Marlborough have reached a boiling point which appears to have played a role in the gallery's wind down.

Last week, Max Levai— son of Pierre Levai, who ran Marlborough in New York while Gilbert Lloyd ran business in London, released a strongly worded statement that said he had been "effectively terminated by the Board of Trustees of the Lloyd Family Trusts" and therefore had "regrettably broken with the international Board of Marlborough Gallery."

Levai said while his 83-year-old father was "battling for his life" after testing positive for COVID-19, the board "used his condition for their own advantage" and voted to close the New York gallery permanently. 

The Trusts' spokesperson says that the decision to eventually close the New York gallery was made solely in light of business realities. 

The Fine Art Society, which shut its doors after 142 years on London's New Bond Street in 2018, sold its stock. Now, under new chairman Benny Higgins, chief executive of Tesco Bank until 2018, the London space will reopen in Soho's Carnaby Street in October. 

The opening exhibition will be of "the best of the artists that we show", Morgan-Cox says, including the English Painter John Minton (1917–1957). 

See Melanie Gerlis, As Marlborough gallery winds down, the Fine Art Society reopens, Financial Times, June 24, 2020.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2020/07/as-marlborough-gallery-winds-down-the-fine-art-society-reopens.html

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