Jewish Museum Rightly Valued At $66M, Judge Says

Law360 (April 6, 2021, 9:27 PM EDT) -- A Pennsylvania federal judge Tuesday ratified a bankruptcy court's finding that a bankrupt Philadelphia Jewish history museum's property is worth $66 million, saying the museum management's $10.5 million estimate doesn't factor its own intention to keep running the building as a museum.

In her order, U.S. District Judge Wendy Beetlestone said the bankruptcy court judge was right to accept the higher valuation proposed by the secured lenders for the downtown Philadelphia location of the National Museum of American Jewish History, saying as a legal standard the museum's intention to keep using the building means it can't be valued as if it...

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