Creditor Seeks Art Museum Documents, Other Records

By: Associated Press
By: Associated Press
One of Detroit

Typical American city skyline (Detroit, Michigan)

DETROIT (AP) -- One of Detroit's creditors is seeking documents related to pieces in the city's art museum.

New York-based bond insurer Syncora has filed a motion in bankruptcy court requesting records showing the dollar value of art in the Detroit Institute of Arts and communications between the city, investors and others interested in buying part of the collection.

Christie's auction house has appraised city-owned pieces at up to $867 million.

Syncora also is seeking documents related to the potential sale of other assets, including a popular island park and Detroit's portion of a commuter tunnel connecting the city to Canada.

Syncora has been fighting the city's plan to pay off a pension debt deal with two banks that will cost the bond insurer millions of dollars in casino tax revenue.


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