Michigan Governor Rick Snyder is proposing that the state contribute $350 million to help protect the Detroit Institute of Arts collection and Detroit’s pension funds during the settlement of the city’s bankruptcy, the Detroit News has reported.
In an unprecedented move, nine local and national foundations have pledged $330 million to help the city of Detroit settle its bankruptcy, the Detroit Free Press reported.
The indefatigable Detroit Free Press once again has the scoop on the latest developments at the Detroit Institute of Arts, and this time it’s the release of Christie’s appraisal of the museum’s collection.
DETROIT — “The greatness of America lies not in being more enlightened than any other nation, but rather in her ability to repair her faults,” wrote Alexis de Tocqueville. The US is great because it can roll up its sleeves and fix its problems. On December 3, US Bankruptcy Judge Steven Rhodes ruled that the City of Detroit was eligible for Chapter 9 bankruptcy protection.
In a statement posted to their website late yesterday, the Detroit Institute of Arts (DIA) has affirmed its support of its host city’s Chapter 9 bankruptcy proceeding.