A Missouri judge has rejected arguments that a bank mismanaged American painter Thomas Hart Benton's estate by selling his artwork for less than what it was worth and losing more than 100 pieces.
Judge Mark Styles ruled there were only five Benton pieces that UMB Bank could not account for during its administration of the Benton Trust. They were not paintings, but were likely sketches or studies, KCUR-FM reports.
The Jackson County Circuit Court judge awarded Benton's heirs $35,000 on Dec. 13, just a fraction of the $85 million that the family sought in a 2019 lawsuit. The bank said in a statement that it is thrilled, but the family's lawyers said they are considering an appeal.
“Despite the decision from this trial, we still strongly believe in the merits of the case for the Benton family," said Kent Emison of the Langdon & Emison law firm, which brought the suit on the Bentons’ behalf.
Benton, who died in Kansas City, Missouri, on Jan. 19, 1975, is known for his portrayals of Midwestern life in the 20th century. His paintings and murals are in museums across the United States, including the Metropolitan Museum of Art, the Whitney Museum of American Art and the National Gallery in Washington.
One deal that was questioned was the 1986 sale of “Persephone,” which depicts the Greek goddess resting nude as a farmer gawks, to the Nelson-Atkins Museum of Art for $2.5 million. At issue was the fact that a former chairman and board member for UMB served on the Kansas City museum's board at the time of the sale. But the judge found no evidence of anything inappropriate.
“The notion that UMB undersold Benton’s artwork while serving as trustee of the Benton Trust is ultimately unfounded,” Styles wrote.
