Brad Richter quoted by<em> The Wall Street Journal </em>on a recent ruling involving endowment funds

Brad Richter quoted by The Wall Street Journal on a recent ruling involving endowment funds

Trusts and estates partner Brad Richter was quoted by The Wall Street Journal on a recent ruling that Long Island College Hospital, which is struggling financially, must repay millions borrowed from an endowment set up by Donald and Mildred Othmer, early investors with billionaire Warren Buffett. The case underscores the challenges in protecting endowment funds and donor intent. Cases such as these "will give donors to anything but the largest charitable institutions increased pause and increased incentive to put more restrictions and have more continued oversight of their gifts," said Mr. Richter.

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