The First Art Newspaper on the Net Established in 1996 United States Thursday, December 25, 2014


Detroit Institute of Arts statement regarding City of Detroit's eligibility to file for bankruptcy
Museum patrons leave the Detroit Institute of Arts. The museum could be forced to close, if its world-class collection is allowed to be even partially sold to pay off Detroit's creditors during the city's bankruptcy proceedings. Founded in 1885, the museum has amassed a world-class collection through the patronage of press barons and auto industry giants. It was the first American museum to buy works by Van Gogh and Matisse. It has one of just two works by the Dutch master Bruegel that can be viewed in the United States. AFP PHOTO/MIRA OBERMAN.
DETROIT, MICH.- The DIA supports the Emergency Manager's efforts to address the City's current financial crisis. The DIA hopes that Judge Rhodes' ruling today, which confirms that the City is eligible to proceed in its Chapter 9 bankruptcy case, will lead to a quicker and more effective resolution of the crisis.

As it has since the beginning of this matter, the DIA will continue to support the City and all responsible attempts to develop and implement a plan that will contribute to the revitalization of Detroit. Through the support of museum donors and the residents of Macomb, Oakland, and Wayne counties, the DIA will continue to operate the museum without City financial support, saving Detroit $350 million in expenses over the next 10 years and giving the people of Michigan ready access to world-class artistic and educational experiences. The DIA will maintain its position as a cornerstone of the vibrant economic and social community that continues to take shape in Midtown Detroit, and will continue to work with local, regional, and national foundations and businesses to help raise funds to address the City's financial crisis without dismantling the museum.

The DIA art collection is a cultural resource of the people of Detroit, the tri-county area and the entire State of Michigan. The museum's collection is the result of more than a century of public and private charitable contributions for the benefit of the public. Protected by a charitable and public trust, the collection has survived several municipal fiscal crises and financial downturns, including the Great Depression, free from threats to its existence.

The DIA therefore opposes the motion filed last week by certain City creditors to allow them to form a committee to oversee the valuation and sale or "monetization" of the museum art collection to satisfy municipal obligations. The DIA remains hopeful that the Emergency Manager will recognize the City's fiduciary duty to protect the museum art collection for future generations and that he will abide by the Michigan Attorney General's opinion that the City holds the art collection in trust and cannot use it to satisfy City obligations. If the art is placed in jeopardy, the DIA remains committed to take action to preserve this cultural birthright for future generations.





Today's News

December 4, 2013

Skull find shows young women were sacrificed in China more than 4,000 years ago

Chinese dissident artist Ai Weiwei commissioned to create new site-specific works on Alcatraz Island

Artcurial Impressionist & Modern Art sale establishes records for works by Aristide Maillol

A building dating to the Hasmonean Period was discovered in excavations in the City of David

Christie's London Evening Sale of Old Master & British Paintings realises $35.8 million

Detroit Institute of Arts statement regarding City of Detroit's eligibility to file for bankruptcy

Resnicks loan Renaissance masterpiece to Huntington Library, Art Collections, and Botanical Gardens

Christie's New York to offer rare first edition of Isaac Newton's Principia Mathematica

"Harry handcuff Houdini": A magical auction of ephemera at Dreweatts & Bloomsbury Auctions

Ryan O'Neal defends taking ex-lover's Warhol picture in University of Texas lawsuit

Sotheby's London to auction a unique and personal charm bracelet based on designs by J.K. Rowling

Morphy's Dec. 13-14 holiday auction lineup includes antique toys, marbles, banks, robots & space toys

Swann Galleries to auction selections from the restituted Julius Paul Collection of Posters

Major solo exhibition of ceramic work by artist Julian Stair opens at Somerset House

BP Portrait Award 2014 competition opens as BP shows its support for 25th year

Top skaters team up with legendary recording artists to benefit at-risk youth

National Museum of Natural History receives $1 million to increase global access to endangered languages

Israel Museum presents its Winter exhibition season showcasing Israeli and international Contemporary art

Hasselblad debuts state of the art Stellar and Lunar cameras at Art Basel Miami

SMU's National Center for Arts Research Releases first report on health of nonprofit arts industry

Most Popular Last Seven Days



1.- Colossal statue of Amenhotep III unveiled on the west bank of the Nile in Egypt

2.- British royals crown New York visit with gala dinner

3.- Missing artwork rediscovered in "Stuart Little" sells for over 200,000 euros at auction

4.- Rossetti's Venus Verticordia soars at Sotheby's in London to sell for £2.88 million

5.- Russian magnate buys, then returns Nobel prize to American geneticist James Watson

6.- Egyptian Museum unveils four newly renovated halls of the famed Tutankhamun gallery

7.- 'The Secret of Dresden: From Rembrandt to Canaletto' on view at the Groninger Museum

8.- Cooper Hewitt Smithsonian Design Museum reopens after three-year renovation

9.- More than 200 queries about works by possible heirs received on Nazi-era art hoard

10.- Attorney, artist and filmmaker reflects on the seven lessons learned at 2014 Art Basel Miami Beach



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