Detroit Institute of Arts pleased with bankruptcy plan - Fox 2 News Headlines

Detroit Institute of Arts pleased with bankruptcy plan

Posted: Updated:
  • Detroit Institute of Arts pleased with bankruptcy planMore>>

  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing for the first time a detailed look at what the Motor City would look like when it finally sheds its financial burdens.

DETROIT (AP) - A museum at the center of Detroit's bankruptcy case is praising a plan that would end the city's role in owning art.

The Detroit Institute of Arts says it would take control of thousands of pieces of art already at the museum but owned by Detroit. The DIA, as it is known, has pledged to raise $100 million for city pensions.

DIA Chairman Eugene Gargaro Jr. says it's a "historic day."

Art has been a controversial piece of the bankruptcy case because many creditors believe pieces could be sold to pay debts. Art has been valued at $450 million to $870 million.

Detroit's plan for the museum is part of a broader bankruptcy strategy released Friday. It must be approved by a judge.

  • Local NewsLocal NewsMore>>

  • Let It Rip Weekend Proposal One and the Mongo Brothers

    Let It Rip Weekend Proposal One and the Mongo Brothers

    Let It Rip Weekend Proposal One and the Mongo Brothers

    Monday, July 28 2014 2:46 PM EDT2014-07-28 18:46:07 GMT
    How is Proposal One tied into funding our local schools, police and fire departments, plus should African Americans abandon the Democratic Party and the UAW?
    How is Proposal One tied into funding our local schools, police and fire departments, plus should African Americans abandon the Democratic Party and the UAW?

  • Porch shooter Theodore Wafer back in court for 3rd day of trial

    Porch shooter Theodore Wafer back in court for 3rd day of trial

    Monday, July 28 2014 2:34 PM EDT2014-07-28 18:34:31 GMT
    The trial of a Detroit-area man who killed a young unarmed woman on his porch is entering its first full week of testimony.
    The trial of a Detroit-area man who killed a young unarmed woman on his porch is entering its first full week of testimony.
  • Parents of child held in basement appearing in court

    Parents of child held in basement appearing in court

    Monday, July 28 2014 2:30 PM EDT2014-07-28 18:30:40 GMT
    DETROIT -- The father and stepmother of a 12-year-old Detroit boy who was found in his basement after an 11-day disappearance are due back in court.
    DETROIT -- The father and stepmother of a 12-year-old Detroit boy who was found in his basement after an 11-day disappearance are due back in court.
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices