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AK Files: Orr Rows DIA to Safety

Detroit -- The expert in charge of freeing the city from bankruptcy rejects a proposal to raise as much as $2 billion for the city by selling its art collection or using it to secure a loan. However, creditors still want to monetarize the city's art.

Art collectors of ArtKabinett social media network know that only the bankruptcy court has the final say in liquidating the amazing collection of the Detroit Institute of Arts.

Several creditors are still looking to get their hands on the city's art holdings. Bond insurers and a public workers union Tuesday presented four potential offers to convert the Picassos, Van Goghs and other works at the Detroit Institute of Arts into cash.

One possible bidder is a Chinese auction house, according to court filings.

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