The trail which will decide the fate of the Detroit Institute of Arts’ collection began with opening arguments on Tuesday. On behalf of the city, Attorney Bruce Bennett claimed he will try to prove the DIA’s collection in question was not accurately estimated at $8 billion (estimated by creditors), liquidation will be considerably difficult, and raising taxes is not a reasonable alternative. The trail is expected to drag into October so it will almost certainly be several weeks if not months before we know the fate of the DIA’s collection.
Opening argument in Detroit bankruptcy trial: Selling art, raising taxes aren’t reasonable options