FREDERICTON - Fredericton's Beaverbrook Art Gallery and the Beaverbrook Canadian Foundation have reached a settlement in a legal dispute over who owns dozens of art works.
In a news released issue Friday the gallery says the settlement concerns 78 works of art which the First Lord Beaverbrook and Lady Beaverbrook delivered to the gallery in the 1950s and 1960s.
The gallery says under the terms of the settlement it has released claims to 43 works of art and the foundation has released claims to 35.
However, the Beaverbrook Canadian Foundation has agreed to a long -term loan of their works to the gallery which will allow the gallery to continue to exhibit, research and promote the works as part of its collection.
In addition, the current chairman of the foundation Max Aitken, has agreed to join the board of the Beaverbrook Art Gallery.
Beaverbrook Art Gallery chairman Allison McCain says the resolution of the dispute will allow the gallery to keep in tact and display its collection.