Now that a bankruptcy judge has ruled that Detroit may proceed under Chapter 9 of the U.S. Bankruptcy Code, the decision whether to sell the city’s art collection, or specific items from the collection is now a hotly debated issue.  In bankruptcy, if the debtor owns assets that may be liquidated to pay creditors those assets are subject to attack.  Parties on both sides of the debate are scrambling to provide justification for their position regarding the fate of Detroit’s art collection – – one of the best in the country.  With both sides pushing, it is unclear yet what the bankruptcy judge may do with regard to the city’s fine arts collection.

For more details read, “Fate of Detroit’s Art Hangs in the Balance.”