The collection at Detroit Institute of Art continues to be a controversial subject in the city's bankruptcy proceedings.
The latest: Nathan Bomey of the Detroit Free Press reports that a financial insurance firm that stands to lose big money in the bankruptcy, said it has lined up tentative bids of $2 billion for the DIA art collection.
Bomey writes that the move by Financial Guaranty Insurance Co. is " designed to pressure the city to sell artwork to pay off debt."
Bomey reports that the prospective investors include a coalition of Catalyst Acquisitions and Bell Capital Partners that tentatively offered $1.75 billion for all of the DIA’s property. -- Allan Lengel
