Detroit bankruptcy

6:21 am
Thu July 10, 2014

Detroit Institute of Arts Collection Valued Between $1.1-Billion and $4.6-Billion

Lead in text: 
Wide range is reflection of uncertainty of art market
A New York art investment firm brought in to appraise the full collection at the Detroit Institute of Arts puts its total value between $1.1 billion and $4.6 billion. Artvest Partners principal Michael Plummer was hired by the DIA and the city to prepare an expert report on the museums value in response to claims by some creditors that an earlier Christies appraisal grossly undervalued the collection.
7:11 am
Wed July 9, 2014

Detroit Reaches Deal With Police Union With Bankruptcy Hearing Scheduled

Lead in text: 
Trial over city's bankruptcy filing is scheduled for next month
Detroit The city reached an agreement late Tuesday with a key police union that could speed the citys exit from bankruptcy and shorten next months trial over Detroits debt-cutting plan. Though negotiations toward a five-year deal continue, the city and Detroit Police Officers Association reached agreement on wages, health care, retention payments and pensions.
7:09 am
Tue June 17, 2014

Detroit City Council Approves Transfer of DIA Assets

Lead in text: 
Move is called important to protect works of art and pensions of Detroit city workers
The City Council Monday gave its final approval of a bankruptcy plan to transfer the assets of the Detroit Institute of Arts to an irrevocable trust in exchange for state and foundation funding to aid city pensioners.
9:11 pm
Tue June 3, 2014

Senate Approves Detroit Aid Package

Lead in text: 
Snyder calls it "great day in Michigan history"
LANSING, MI -- Michigan Gov. Rick Snyder on Tuesday hailed Senate passage of "grand bargain" legislation designed to speed up the city's exit from bankruptcy and minimize retiree pension cuts, signaling his intent to sign the bills into law later this week.
6:36 am
Tue June 3, 2014

State Senate Considers Detroit Bankruptcy "Grand Bargain"

Lead in text: 
Money from state would be combined with contributions from foundations and labor unions
LANSING - A Senate committee is scheduled to take up a package of bills today providing for $194.8 million in state funding to help settle the Detroit bankruptcy through a "grand bargain" to protect city pensioners and Detroit Institute of Art treasures.

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