The Detroit Institute Of Art Collection Seized By Vultures!

[French jurist]

Not... But could happen (NY Times).

http://www.nytimes.com/2013/07/20/arts/design/detroits-creditors-eye-its-art-collection.html?pagewanted=all&_r=0

Argentina should buy penny on the dollar the money owed to Detroit creditors, acting as a Vulture fund and seize the Art collection of one of the biggest Art institution in the US. 2 billions $ worth, this Art collection would leave a 700 million positive balance that could be claimed by Argentina.

 

[Ries]

Extremely Unlikely.
The State Attorney General ruled quite some time ago that the DIA (Detroit Institute of the Arts) Collection was NOT legally owned by the City, and could not be sold by it.
It is held in trust for the citizens, and is not part of the ordinary assets of the City of Detroit.

 

[ghost]

Not... But could happen (NY Times).

http://www.nytimes.c...wanted=all&_r=0

Argentina should buy penny on the dollar the money owed to Detroit creditors, acting as a Vulture fund and seize the Art collection of one of the biggest Art institution in the US. 2 billions $ worth, this Art collection would leave a 700 million positive balance that could be claimed by Argentina.

I saw an article yesterday that valued the art at 18.5 Billion USD. No way any judge is going to let a vulture touch this treasure.

 

[ChristyLeeCarter]

This will not happen legislation had already been passed to protect the art. Check www.gongwer.com and research the topic.

 

[pitipur]

Not... But could happen (NY Times).

http://www.nytimes.c...wanted=all&_r=0

Argentina should buy penny on the dollar the money owed to Detroit creditors, acting as a Vulture fund and seize the Art collection of one of the biggest Art institution in the US. 2 billions $ worth, this Art collection would leave a 700 million positive balance that could be claimed by Argentina.

As someone who currently lives in Detroit, but the fact is that this was never even discussed as an option and was a result of something in the rumor mill getting blown way out of proportion.

http://wdet.org/shows/wdetraw/episode/Facts-Matter-Kevyn-Orr-DIA/

That being said, we have a really great city thanks to all the grassroots efforts by the community who have made a LOT out of nothing, despite the bankrupt government. Obviously the city has its issues, but there is a lot of good going on all the time that never gets talked about in the media (big surprise).