NASHVILLE, Jan. 4 (UPI) -- An official with the Country Music Hall of Fame & Museum says the Nashville site will get to keep several key artifacts despite a bankruptcy claim against it.
Museum Director Kyle Young said while a trustee handling the bankruptcy of the late investor Bob McLean had initially sought nearly $1.54 million from the Tennessee venue, the trustee agreed to accept less than half that amount, Pollstar.com reported Saturday.
The initial claim against the museum came about after investors filed an involuntary bankruptcy suit against McLean last year, alleging he swindled them out of more than $67 million.
McLean, who committed suicide after the suit was filed, had been a routine contributor to the Nashville museum.
Among his notable donations were two guitars once owned by singer Johnny Cash, a 1923 Gibson mandolin used by bluegrass star Bill Monroe and a 1928 Gibson guitar that once belonged to country musician Maybelle Carter.
While the museum faced the possible loss of the items, the trustee instead signed a settlement with the site's operator, the Country Music Foundation, for a $750,000 payment to McLean's bankruptcy estate.