'Potential litigation' cancels U of L Foundation meeting

LOUISVILLE, Ky. (WHAS11) – A special meeting of the Executive Committee of the University of Louisville Board of Trustees was cancelled just an hour and a half before it was scheduled.

Chairman of the Foundation Board, Dr. Robert Hughes says the reason was potential litigation from another board member.

“I would just say the Chairman of the Board of Trustees using outside counsel paid for by the University, basically threatened the Executive Committee of the Foundation with potential legal action of breaching their fiduciary responsibility, which is basically their financial obligations to the entity that they represent which in this case is the Foundation,” Hughes said. “Then under advice, like I said from our legal counsel, until he had the time to study the chairman's letter you know he recommended we cancel the meeting which is what I did.”

Larry Benz, Chairman of the Board of Trustees said, "I have not threatened any legal action.  I do believe that certain personnel matters as outlined in the bylaws of University of Louisville Foundation do require full board approval rather than just the executive committee."

This special meeting had on the agenda Executive Session to discuss personnel matters and approval of RFP for complete financial examination and audit of the U of L Foundation. No word on when or if this special meeting will be rescheduled, but the U of L Foundation has an annual meeting each September. 

 

Letter Larry Benz to ULF


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