Detroit Institute of Arts pleased with bankruptcy plan - New York News

Detroit Institute of Arts pleased with bankruptcy plan

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  • Detroit files plan to fix debt, leave bankruptcy

    Detroit files plan to fix debt, leave bankruptcy

    Friday, February 21 2014 12:49 PM EST2014-02-21 17:49:57 GMT
    Detroit's emergency financial manager filed a plan Friday that would bring the city out of bankruptcy, providing a detailed look at what the Motor City would look like when it finally sheds its financial burdens.
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DETROIT (AP) - A museum at the center of Detroit's bankruptcy case is praising a plan that would end the city's role in owning art.

The Detroit Institute of Arts says it would take control of thousands of pieces of art already at the museum but owned by Detroit. The DIA, as it is known, has pledged to raise $100 million for city pensions.

DIA Chairman Eugene Gargaro Jr. says it's a "historic day."

Art has been a controversial piece of the bankruptcy case because many creditors believe pieces could be sold to pay debts. Art has been valued at $450 million to $870 million.

Detroit's plan for the museum is part of a broader bankruptcy strategy released Friday. It must be approved by a judge.

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    The so-called 'knockout game' where a person punches another unsuspecting person has made its way to Hackensack, N.J. Police say an assailant attacked three people on the same day. Surveillance video shows the athletically built suspect punch a man in the face and stroll away. The man fell to the ground. Two other assaults took place within less than 15 minutes.
    The so-called 'knockout game' where a person punches another unsuspecting person has made its way to Hackensack, N.J. Police say an assailant attacked three people on the same day. Surveillance video shows the athletically built suspect punch a man in the face and stroll away. The man fell to the ground. Two other assaults took place within less than 15 minutes.
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    Happy Meals might soon need to get healthier.  A New York City councilman is introducing legislation that would set stricter nutritional standards for meals served with toys.
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    Detectives from the Nassau County Homicide Squad are investigating an explosion that destroyed a boat, burned two docks, and killed the boat's owner in Manorhaven on Wednesday afternoon. Two dock workers and two boaters were gassing up a docked 33-foot Carver motor boat just after 2:45 p.m. when an explosion tore through the boat, setting it and the dock on fire, police said. Hogan was reportedly a former NYPD captain.
    Detectives from the Nassau County Homicide Squad are investigating an explosion that destroyed a boat, burned two docks, and killed the boat's owner in Manorhaven on Wednesday afternoon. Two dock workers and two boaters were gassing up a docked 33-foot Carver motor boat just after 2:45 p.m. when an explosion tore through the boat, setting it and the dock on fire, police said. Hogan was reportedly a former NYPD captain.
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