Detroit faces a long legal fight over its valuable art collection and other key matters in its historic bankruptcy case, a bond insurer argued on Friday, that make it imperative to push back the start of a trial on the city's debt adjustment plan, Reuters reported on Saturday. Syncora Guarantee Inc. in a court filing warned that lawsuits will be filed over the Detroit Institute of Arts' collection, which the city is not selling at this point to help pay its $18 billion in debt. Syncora, which guaranteed payments on some of Detroit's bonds, and other creditors have pushed for the sale of art works to raise more cash for the city to spread among its thousands of creditors, who face steep losses in the largest municipal bankruptcy in U.S. history.
