As we predicted when it was filed, Judge Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan denied today several creditors’ motion to appoint an independent commission to appraise the collection of the Detroit Institute of Arts (owned by the city of Detroit) as part of the city’s ongoing bankruptcy.
An important qualifier to the discussion about deaccessioning and the Detroit Institute of Arts is that although DIA is a subdivision of the bankruptcy debtor (Detroit), that debtor is not any old commercial entity. Rather, Detroit is a municipality, and municipal and state debtors are governed by slightly different rules than private parties.
Topics: Legislation, Tenth Amendment, Donn Zaretsky, Deaccession, Chapter 9, 11 U.S.C. § 904, Public Trust, Attorney General of Michigan, Detroit, Detroit Institute of Arts, Bankruptcy, Collections, Bankruptcy Code, Association of Art Museum Directors, Bill Schuette, Detroit Emergency City Manager, Kevyn Orr, Museums, Detroit Bankruptcy, AAMD