Monday, August 30, 2010
Somerhill Gallery declares Chapter 7, owes more than a quarter-million dollars to artists
- Somerhill.com
Somerhill Gallery President Joe Rowand lives in a 4,500-square-foot mansion filled with fine art on a 22.5-acre estate outfitted with a saltwater swimming pool and separate guest quarters—yet his gallery owes nearly $200,000 in back rent and $277,000 to artists whose work it consigned. somerhillcreditorlist.pdf
And during the gallery’s financial meltdown, Rowand has drawn a $15,000 monthly salary, according to federal bankruptcy court documents. (See pages 4-5 of the document.) motiontopay.pdf
Somerhill declared Chapter 11 bankruptcy earlier this year, but converted it to Chapter 7 last week.
The gallery, which moved from Chapel Hill to Durham in 2008, is housed in a 9,663-square-foot space on the first floor of the Venable Building, 302 E. Pettigrew St., in Durham. Scientific Properties owns the building. Monthly rent is $17,762, according to court documents; the gallery has not paid rent for almost a year.
Scientific Properties has asked the court to require the gallery pay rent and fees and to vacate the premises. In that document, Scientific Properties cites a monthly debtor report showing that in both May and June, Rowand received $15,583 in salary and an additional $3,384 in health insurance.
The gallery has asked to stay in the Venable Building until it can move to a new space, which is not named in court documents.
Rowand was not available for comment Monday afternoon on the bankruptcy, his salary or the gallery’s move.
Other debts include $200,000 to philanthropist Rolf Rosenthal of Locust Valley, N.Y. He and his wife, Elizabeth, headed a charitable foundation that funded many artistic programs, including episodes of PBS’ American Masters series. Rosenthal died in February 2009.
In May, the monthly debtor report shows that “the gallery sold consigned property for $10,252, yet had not paid the persons who consigned the art.” The gallery hopes to raise $264,000 in a liquidation sale of its assets.
(H/T BullCityRising on the Chapter 7 news.)
Comments (7)
Showing 1-7 of 7
This exposure is long overdue for Joe Rowand and his Ponzi scheme. As many of us former employees from the early beginnings this is how Joe has done business all along, Steal from the poor(artists) and rob the rich(clients).Wat speaks for his true persona is that he's gotten away with this for more than thirty some years.
Posted by those who know on September 25, 2010
like
dislike
Somerhill lasted for over 35 years and nothing much has changed except one thing: nobody is buying art now. Nobody complained about salaries when the economy was booming. Durham is losing a jewel of a gallery. Joe's talent and vision has helped countless artists earn a living for over three decades, and has devoted his life to North Carolina arts. The way I see it is that this state is going to keep losing unless people start buying art again, and that's not going to happen until the political and economical climate of the nation changes.
@ Bullcrap, where do people like you come from?
What's happened in this world where a business exercises its legal right to receive payment under a mutually agreed-upon contract and somehow ends up being villainized while the freeloader gets your praise? Look at how much he owed people - it would seem that Scientific, and a lot of the other creditors, must have had a lot of patience with your St. Joe for not going after him a lot sooner. Instead of doing the right thing and honoring his end of those debts, he hides behind skirt of bankruptcy.
Fitting name for your post, "Bullcrap".
Now all the tongues that have been wagging for years can wag even faster.
For years there has been a undercurrent of obnoxious untalented hack
artists that have been droning on and on about him as if he was the center of the art universe. One side hates him and are jealous, one side wants to be at his table and when they find there invite was not in the mail they hate him for a while till they need him again.
Perhaps the Independent should really follow the MONEY as they say and look into Scientific Properties also. They seemed to get everything they wanted there for awhile until the bad ole recession came in. Hiding back in NY is a safe place to be until all the dirty garbage has been swept off the beautiful streets of Durham.
Let the courts finish up what has to be done and then see if 15000 a month is too much. I know plenty of people who make that much at Duke and out in RTP and do FAR, FAR less work than Joe Rowand has done over the years.
Now the Indy will have one less Art venue in Durham to cover in their 3 lines of page space they give over to the Art Community.
He has brought this all on himself.......he has lived way too large for his means and now must pay the piper.
He needs to just go away with his pity stories!
This is sad news. Joe has done a lot in the past for the local art community. I am sorry to hear about his troubles and wish him all the best.
Latest in Triangulator
-
Liberty Warehouse repairs unfinished; city could set new conditions, deadline next week
Greenfire Development would be subject to fines if the group is found at fault and fails to make repairs by a new deadline.
- Feb 2, 2012
-
Bowles skipping race for governor
Erskine Bowles announced today that he won’t run for governor. The former UNC-system president who served as chief of staff in the Clinton Administration and twice ran for U.S. Senate and said there are other ways besides serving in Raleigh to make a difference.
- Feb 2, 2012
-
Number of dropouts declines statewide and in Wake, Durham, Orange
- Feb 2, 2012
- More »
Author Archives
-
Perdue to veto Senate Bill 9, restores Racial Justice Act
- Dec 14, 2011
-
Capital 16 Club celebrates Game Week, as in wild game, not Twister
Tonight Capital 16 Club in Raleigh launches Game Week, with the menu featuring wild boar, rabbit, venison and pheasant.
- Nov 8, 2011
- More »
