A committee representing Detroit’s 20,000 municipal retirees is demanding a more thorough review of the Detroit Institute of Arts (DIA) collection, arguing that Emergency Manager Kevyn Orr’s revised bankruptcy plan is less favorable than the original, MLive.com reported.
The saga of Detroit’s bankruptcy negotiations rolls on, and the Detroit Free Press continues to have the scoop on the story. The latest: the Detroit Institute of Arts has pledged to raise $100 million over 20 years to contribute to the city’s rescue.
In July, when we covered Peter Schjeldahl’s since-retracted stance on selling the Detroit Institute of Arts (DIA), we noted the legal and logistical challenges of liquidating any part of the collection. Though a lot has transpired since then, there remains a lingering uncertainty about the legal standing of City of Detroit creditors vis-à-vis the DIA itself.
In a process that at this point is approaching farce, the Detroit Free Press is reporting that City of Detroit emergency manager Kevyn Orr demanded yesterday that the Detroit Institute of Arts (DIA) contribute to a city bankruptcy fund, despite the recent $680 million intervention on the DIA’s behalf by Michigan governor Rick Snyder and a consortium of nonprofit foundations.
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 legal filing today first reported in the Detroit Free Press, a consortium of Detroit creditors aggressively make their case for the sale of the Detroit Institute of Arts’ collection. The document, dated November 26, charges that emergency manager Kevyn Orr has been insufficiently transparent about the process by which Christie’s is evaluating the DIA’s collection.
As the Detroit Institue of Arts (DIA) continues its long slide to Emergency Manager Kevyn Orr’s butcher block, several issues have come to light regarding the fate of its artwork and the financial context of the Detroit bankruptcy.
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.
CHICAGO — Much like the city of Detroit’s epic economic saga, this story took me on a wild goose chase. I’m an art journalist reporting on Detroit from Chicago — or, if you would prefer, the Motor City from the Windy City — and that seems odd. The media craze around Detroit just won’t quit, and Chicago is increasingly finding itself implicated in it all. Perhaps the artists are to blame.