DETROIT (AP) — A judge overseeing Detroit’s bankruptcy has
heard arguments from creditors who want a role in deciding what to do
with the city’s valuable art collection.
Judge Steven Rhodes says he’ll make a decision Wednesday afternoon. But his comments suggest he’s not in
favor.
Creditors
filed a request two months ago to have a say in the appraisal of art
and any potential way to make money from it. But since then, a coalition
of foundations has pledged to give more than $300 million to prevent
any sale and shore up Detroit pensions. Separately, Gov. Rick Snyder has
talked to state lawmakers about the state chipping in.
Christie’s
auction house appraised about 2,800 paintings, sculptures, pottery and
other city-owned art. They’re valued between $454 million and $867
million.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
DETROIT (AP) — A judge overseeing Detroit’s bankruptcy has
heard arguments from creditors who want a role in deciding what to do
with the city’s valuable art collection.
Judge Steven Rhodes says he’ll make a decision Wednesday afternoon. But his comments suggest he’s not in
favor.
Creditors
filed a request two months ago to have a say in the appraisal of art
and any potential way to make money from it. But since then, a coalition
of foundations has pledged to give more than $300 million to prevent
any sale and shore up Detroit pensions. Separately, Gov. Rick Snyder has
talked to state lawmakers about the state chipping in.
Christie’s
auction house appraised about 2,800 paintings, sculptures, pottery and
other city-owned art. They’re valued between $454 million and $867
million.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.