Reflecting on the recent argument by the Detroit Institute of Arts that the city of Detroit cannot legally sell, let alone be forced to sell, the artwork in the museum to satisfy creditor, some overlapping terminology creates the possibility of an important confusion. Particularly in the realm of deaccessioning, this distinctions are quite important. Meanwhile, the state of Michigan today approved its part of the “Grand Bargain” to subsidize the bankruptcy to avoid sale or encumbrance of the artwork.
Topics: Donn Zaretsky, Roberta Smith, Rose Art Museum, Lee Rosenbaum, Columbia University, Deaccessioning, Detroit Institute of Arts, Isabella Stewart Gardner Museum, Association of Art Museum Directors, Michigan, Albright-Knox Gallery, New York Times, Detroit Bankruptcy, AAMD, Edward Hopper, Pennsylvania Academy of Fine Arts, grand bargain, Brandeis University, Barnes Foundation
As we predicted when it was filed, Judge Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan denied today several creditors’ motion to appoint an independent commission to appraise the collection of the Detroit Institute of Arts (owned by the city of Detroit) as part of the city’s ongoing bankruptcy.