Detroit Creditors Push for Independent Valuation of Detroit Institute of Arts Collection

November 27th, 2013

Detroit Institute of Arts, via WSJA group of Detroit’s creditors are pushed for an independent valuation of the Detroit Institute of Arts collection, marking a tense escalation between the city and its debt collectors, with the embattled museum caught in the middle.  “This motion doesn’t compel a sale,” said Derek Donnelly of Financial Guaranty Insurance Co. “It just establishes a communal framework for addressing value maximization of the artwork.”

Read more at Wall Street Journal