Art Market Monitor Publishes Perceptive Take on Detroit Bankruptcy, fate of DIA Collection

September 2nd, 2014

The Detroit Bankruptcy hearings begin this week, and while some alarmists wring their hands over the fate of the Detroit Institute of Art’s collection, the Art Market Monitor notes a series of indications that the museum collection will likely not find itself on the auction block.  Citing a New York Times article, the site notes the “scorched earth” approach taken by debt holders Syncora, and the chances that it may only alienate the courts in attempts to collect whatever it can on the final rulings.

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