Japanese Businesses Back Detroit's Bankruptcy Deal, Pledge $2.2 Million To DIAMost of donation will be used for the DIA's $100 million commitment to the so-called grand bargain. The rest will go toward reinstalling the museum's Japanese collection in a new gallery.
Detroit Bankruptcy Trial On Hold After Deal With Major CreditorA judge has suspended Detroit's bankruptcy trial until Monday to give the city more time to work out details of a settlement with a major creditor.
Detroit, Key Bankruptcy Plan Opponent Reach DealThe joint filing by the city and bond insurer Syncora Guarantee said that they "have reached an agreement in principle" to settle the company's $400 million claim in the nation's largest-ever municipal bankruptcy case.
Will The City Of Detroit Be Tempted By Offer Of $4 Billion With DIA Art As Collateral?Art finance lender, Capital Art Group of New York offered to loan Detroit $4 billion, if the DIA collection is used as collateral for the loan.
Toyota Pledges $1M Toward Detroit Bankruptcy Deal, Saving ArtToyota has pledged $1 million toward the Detroit Institute of Arts' goal to raise $100 million to prevent the sale of art in Detroit's bankruptcy and help city pensioners.
Detroit Retirees Vote In Favor Of Pension CutsA judge still must hold a trial to determine if Detroit's overall bankruptcy plan is fair and feasible, but support from retirees is vital.
Companies, Foundations Pledge $26.8M To Save Art At DIAThe pledges bring the Detroit Institute of Arts to almost 80 percent of its grand bargain goal.
DIA To Make Major Grand Bargain Announcement WednesdayA major announcement is expected in a deal that promises millions of dollars to support municipal retiree pensions while protecting city-owned artwork from possible sale as part of Detroit's bankruptcy.
Detroit Pensioners On The Clock To Decide Fate Of 'Grand Bargain'Thousands of Detroit retirees and city employees must have their ballots on the city's plan of adjustment in the bankruptcy case turned in this week.
Detroit Pensioners On The Clock To Approve 'Grand Bargain'Retirees supporting the plan used the bill-signing ceremony to urge pensioners to vote yes on the deal.
Gov. Snyder Signs 'Grand Bargain' Bills, Committing $195 Million To DetroitThe governor, in Detroit Friday, has signed legislation committing $195 million to help push the city through bankruptcy and protect pensions.