Bond insurance

Bond insurance companies Financial Guaranty Insurance Co and Syncora Guarantee, as well as European banks and others had asked the U.S. Bankruptcy Court to direct the city and the Detroit Institute of Arts (DIA) to cooperate with their efforts to assess the art work in an effort to develop offers to monetize all or some of it.

Judge Steven Rhodes, who is overseeing Detroit’s historic bankruptcy case, declined to force the city to cooperate with the effort, turning down a request to remove art work from the walls of the DIA for appraisal purposes. But he said that DIA was willing to give creditors access to works not on display.

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