Detroit bankruptcy creditors push for valuation, possible sale of DIA artwork

Detroit bankruptcy creditors seek independent assessment of DIA artwork

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DETROIT - A group of Detroit bankruptcy creditors is asking the judge to appoint a committee which will oversee an independent assessment of the Detroit Institute of Arts art collection.

This could be the first step to selling items within the DIA's treasured collection.

View: Creditors' filing for DIA valuation

The group of creditors is comprised of Detroit's largest employee union, three bond insurers and three European banks. They filed the motion on Tuesday.

They want a better idea of the art's value by way of an independent valuation. The filing means Judge Steven Rhodes likely will have to do make a decision on whether the artwork will be sold as the city strives to enter Chapter 9 municipal bankruptcy.

The art has been undergoing an appraisal by the Christie's auction house. The report is expected in December.

Creditors say they're concerned that emergency manager Kevyn Orr might not maximize the art's potential. It could be worth billions.

More: Judge to rule on Detroit bankruptcy eligibility at 10 a.m. Dec. 3

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