Get instant
small business insurance quotes

Home > Professional Liability/Errors & Omissions Insurance > News

John Hopkins involved in biotech developmental dispute with former farm owner


Those connected to a development at Johns Hopkins University may soon be involved in a legal battle over what the property can be used for.

Elizabeth Banks, who was the original owner of Gaithersburg farmland that was eventually donated to the school in 1989, had requested that the superseding owner of the lot leave it undeveloped. She even turned down offers exceeding $50 million because some proposed owners planned to build over the farmland. However, soon after her death in 2005, the university has stated it plans to construct biotech research facilities on the property, The Washington Examiner reports.

As was stipulated in the contract by Banks, the next owner of the land was to only use it for academic purposes. This stipulation has now caused a lawsuit between Banks' family and the university, according to the paper.

"Development will be, as the deed requires, limited to 'agricultural, academic, research and development, delivery of health and medical care and services, or related purposes only,' " Tracey Reeves, John Hopkins University spokesperson, wrote in a statement, according to the news source.

If architects and engineers of the university follow through with the development plans, legal costs may be covered under professional liability insurance.  

WHY Business Insurance Now?

Learn why thousands of small businesses trust Business Insurance Now as their insurance agency.

Take 15 minutes to see how we can help you protect your business.

  • FREE, no-obligation quotes.
  • Complete one online application to compare multiple quotes.
  • Fast response—typically less than 24 hours on week days.
  • We are a nationwide insurance agency covering 48 states.
  • We work directly with you to evaluate your insurance options.
  • We only work with the top business insurance carriers in the country.
  • Expert, licensed insurance agents to guide you through the process.