Looks like a step in the right direction for defenders of the collection of the Detroit Institute of Arts. This just in from Nathan Bomey‘s live blog of Bankruptcy Court hearings for the Detroit Free Press:
BREAKING: Judge [Steven] Rhodes denies creditor attempt to establish independent committee to assess value of the Detroit Institute of Arts. The court “lacks the authority to grant the requested relief,” Rhodes says. “The court further concludes however that even if it did have the authority and discretion to grant this motion, that discretion should not be exercised here.”…
Judge Rhodes says Michigan Attorney General Bill Schuette‘s argument [my link, not his] that DIA art cannot be sold is a “serious argument.
This means that, for better or worse, the Christie’s appraisal stands, for now, and an initiative proposed by those who would seek a higher assessment of the Detroit Institute of Arts’ collection, as a prelude to monetizing it, has been rebuffed (unless appealed?).