Detroit

City of Detroit May Sell Art Collection to Pay Off Debts

Detroit Institute of Arts has up to a billion dollars worth of assets

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Officials say the Detroit Institute of Arts' collection could be sold to help satisfy creditors if the financially troubled city of Detroit seeks bankruptcy protection.

Bill Nowling, a spokesman for state-appointed emergency manager says Kevyn Orr, says Orr is considering whether the collection should be considered city assets that could be sold to cover Detroit's long-term debt. The debt is estimated at more than $14 billion.