Bill Monroe Mandolin Update
Monroe’s mandolin is still housed in the Country Music Hall of Fame and Museum. If it is to stay there, the museum may be required to divvy up $1.5 million.
For the back story, be sure to read our previous two posts on this situation, here and here.
The Murfreesboro Post is reporting that Robert Waldschmidt, the trustee working to repay McLean’s investors, filed a motion yesterday asking the U.S. Bankruptcy Court to order the Museum to pay $1.5 million and/or return Bill Monroe’s mandolin, along with Mother Mybelle’s guitar and two guitars owned by Johnny Cash.
The museum attorney is arguing against the motion, stating that
…permitting the trustee to recover the charitable contributions is contrary to the interests of the people of Tennessee.
I agree that the instruments belong in the museum, but then again, people were cheated out of a lot of money and that money should be repaid if possible. If some of that money was used to purchase these instruments, I understand why the people who were cheated would feel like the instruments belong to them and should be purchased if the museum wants to retain possession of them. If it was my retirement investment, I’d probably feel the same way.
If required to return, or buy, the instruments, the museum is being cheated somewhat as well, considering the investment they’ve surely made to care for and display these instruments. One would hope the court will take this into consideration when making a judgment.
Stay tuned…
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The fate of Bill Monroe's mandolin hangs in the balance. The instrument is currently housed at the Country...
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[...] The Country Music Hall of Fame and Museum may be forced to pony up $1.5 million if it wants to keep a mandolin owned by Bill Monroe, Mother Maybelle’s guitar and to other guitars owned by Johnny Cash. The instruments were donated to the museum by the late Robert W. McLean, who used investors’ money from a Ponzi scheme he was operating to purchase the instruments. When he took his life last September, he owed the investors more than $63 million. (via The Bluegrass Blog) [...]
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