Detroit’s Art: Priceless Public Treasure or City’s Disposable Assets?
On July 18, 2013, the City of Detroit (the “City”) petitioned the United States Bankruptcy Court for the Eastern District of Michigan for relief under chapter 9 of the Bankruptcy Code. Detroit’s bankruptcy is the largest U.S. municipality chapter 9 filing to-date. The City is in the process of marshaling its property in hopes of monetizing some assets to...
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