A former Detroit university professor is pledging $5 million, hoping it will spark a wildfire of private financial support to protect valuable art from being sold to pay creditors in the city’s bankruptcy.
A Republican senator from Kentucky who may run for president is traveling to bankrupt Detroit to preach a message of lower tax rates.
Two days later, a judge is elaborating on his decision to let Detroit stay in bankruptcy by releasing an opinion of more than 140 pages.
“This is not just a chat, this is to learn,” Sarpolous said.
“Do I need to sell my house? Can I afford to live in a nursing home?”
New York auction house Christie’s estimates the fair market value of city-bought works at the Detroit Institute of Arts to be between roughly $450 million and $870 million.
“I want to say to everyone whose a resident of the city, no one is more aware of the hardship that this is going to cause to a number of different people than me,” Kevyn Orr said.
The ruling by Judge Rhodes concluded that pensions are essentially nothing more than contractual rights …
AFSCME attorney Sharon Levine says a notice of appeal has already been filed in the case.
Judge Steven Rhodes has ruled that Detroit’s bankruptcy can move forward.