One of Detroit’s bankruptcy creditors is sending an exhaustive subpoena to the Detroit Institute of Arts, seeking all documents related to the museum’s art collection and records detailing its financial performance in a move that amplifies the tension over the DIA’s future, the Detroit Free Press reported on Saturday. Bond insurer Syncora is seeking a broad swath of documents, including century-old records detailing the museum’s transfer to city ownership and documents specifying donor restrictions on all of the museum’s 66,000 works. Syncora and another bond insurer, Financial Guaranty Insurance Co., are waging a fight to force the City of Detroit to take steps to turn the DIA into cash to pay off creditors.
