USA Detroit bankruptcy: Bondholders balk at plan for city's artworks (+video)

The collection is central to how the Detroit bankruptcy plan is carried out. Bondholders – one group in the bankruptcy – believe the art should be valued higher, but the judge in the case isn't making a reappraisal easy.

By , Staff writer

Paul Sancya/AP/File

Judge Steven Rhodes, who is presiding over Detroit’s efforts to emerge from bankruptcy, agreed last week to a restructuring plan submitted by the city. The plan still requires a vote by pension groups, labor organizations, and bond insurers, and state lawmakers would have to approve a $350 million cash injection from the state. But it has appeared that most groups are onboard with the plan.