KC Art Institute Suit Puts Donor into Bankruptcy

5 years 4 months 1 day ago Friday, April 19 2013 Apr 19, 2013 Friday, April 19, 2013 11:03:00 AM CDT April 19, 2013 in News
Source: Associated Press
By: Associated Press

KANSAS CITY - A lawsuit filed by the Kansas City Art Institute over an unfulfilled donation has caused a former banker into bankruptcy.

In 2005, Larry and Kristina Dodge of California pledged to donate $5 million to the Art Institute to help construct a new building. The Dodges paid $1 million and the art institute erected the building, naming it for the Dodges.

The couple say the recession and the seizing of Larry Dodge's bank made it impossible to fulfill the pledge

The university sued the couple. With Larry Dodge declaring bankruptcy, the institute is now working to force Kristina Dodge to pay a $3.3 million judgment against the couple.

The Kansas City Star reports the school's attorneys recently sought to compel Kristina Dodge to produce documents about the couple's financial situation.

 

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