- Posted June 17, 2013
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Schuette says art pieces can't be sold to pay debt
LANSING (AP) -- Michigan's attorney general says the collection at the Detroit Institute of Arts is not vulnerable to being sold to pay off any of the city's debt during a municipal bankruptcy.
Bill Schuette says in a formal opinion released last Thursday that the artwork "is held by the City of Detroit in charitable trust for the people of Michigan."
Schuette's opinion follows a request from state Senate Majority Leader Randy Richardville.
State-appointed emergency manager Kevyn Orr has warned DIA officials that creditors could go after valuable pieces if he files for bankruptcy.
Orr is trying to wipe out a budget deficit while restructuring more than $14 billion in debt. He was scheduled to meet last Friday with creditors.
DIA officials have said they don't believe the collection is in danger of being sold.
Published: Mon, Jun 17, 2013
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