In a previous post, I wondered if attendance was up at the Detroit Institute of Arts (DIA) since news of Detroit's bankruptcy filing broke. Indeed, according to a recent report, attendance has doubled over the last year with nearly 600,000 visitors coming to the museum to see firsthand the renowned collection.
Further, in recent news, the court overseeing Detroit's municipal bankruptcy filing denied creditors request for an independent appraisal of the DIA collection and decided that Christie's appraisal (which was done at the request of Emergency Manager, Kevyn Orr) would be used for purposes of the bankruptcy.
Efforts are still underway to save the DIA collection from fire sale by way of the "Grand Bargain". Spearheaded by mediators in the bankruptcy, led by Chief Judge Gerald Rosen of the U. S. District Court for the Eastern District of Michigan, and Eugene Driker (Detroit attorney), the Grand Bargain calls for the DIA to contribute $100 M to a fund to benefit the city's pensioners in exchange for independence from the city and protection from any potential liquidation sale in connection with the bankruptcy filing. The fund has received support from numereous national and local foundations including W.K. Kellogg Foundation of Battle Creek, which recently pledged an additional $40 M.
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