Updates on Detroit Bankruptcy and the fate of the DIA collection

Detroit Institute of Art, Entrance FacadeWe’ve reported here on Detroit’s financial woes and subsequent argument centered on the Detroit Institute of Art (DIA)’s collection-as-liquid-asset. Two updates to this story include the judicial ruling on the city’s ability to file for bankruptcy and the “value” of the collection after an extensive evaluation by Christie’s.

The latest DIA reports indicate wide support from foundations to raise some of the the necessary pension funds without resorting to selling off any pieces from the permanent collection. Read stories here and here. Read the DIA response to the Christie’s evaluation here. For more about Kevyn Orr and the office of the Emergency Manager at the heart of this issue, click here.

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