The red carpet is studded with property and contract questions. Who among those A-List stars even owns the outfits they showcase? In the article “25 Things You Don’t Know about the Oscars” from the March 9, 2026 edition of Us Magazine, author Molly McGuigan says Academy Award winners also do not own the statues they win. The cited explanation? “Since 1950, they’ve signed a special agreement stating they can’t sell or dispose of their trophies without first offering to sell them to the Academy for $1.” (The web version is slightly different from the digital version I quote here). Technically that’s not the same as lack of ownership, but to what extent does it hamper the bundle of sticks?
So … under what circumstances would you make a loan backed by an Academy Award statue (whether or not its name is Oscar)?
Comments
4 responses to “An Oscar-Backed Loan? A Quick Academy Awards Special Edition”
I would. I’m not sure that this is actually a negative pledge clause, but there’s no modern case enforcing a negative pledge so as to defeat the interloping secured lender.
What would a commercially reasonable disposition look like?
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