- Associated Press - Friday, October 3, 2014

DETROIT (AP) - Detroit’s emergency manager says an art museum would have been irreparably harmed if the city had tried to sell art to get out of bankruptcy.

Kevyn Orr testified a third day Friday, this time taking questions from Judge Steven Rhodes. The judge is holding a trial to determine if Detroit’s plan to exit bankruptcy is fair and feasible.

The Detroit Institute of Arts holds many pieces that were acquired by the city. But no art will be sold as part of a deal that protects the museum and raises hundreds of millions of dollars for city pensioners.

Orr says selling art would have been perilous for the museum, which relies on a three-county property tax and the goodwill of powerful donors.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide