A report by an expert witness designated by the City of Detroit for the upcoming bankruptcy trial has been released concerning the value of the full collection of the Detroit Institute of Arts.  The report puts the full collection value at $2.7 to $4.6 billion, but estimates t

This is an update to our September 2013 Blakes Bulletin: Increases to Alberta Licensee Liability Rating Program.

Since reports last month that a grand bargain had been struck to provide an infusion of cash to the Detroit bankruptcy in exchange for conveying the artwork at the Detroit Institute of Arts back to the museum itself, it has been largely accepted that the deal would succeed.  The deal would contribute $366 million from several foundations, $100 million from the DIA foundation, and $350 million from the State of Michigan.  This air of inevitability is due in large part to the cards that Emergency Manager Kevyn Orr holds: unless Detroit wants to monetize or sell the DIA collection th

On April 17, 2014, the Supreme Court of Canada denied leave to appeal to Nortel from the decision rendered by the Ontario Court of Appeal last October. For additional details and commentary on the decision of the Ontario Court of Appeal, please see our November 2013 Blakes Bulletin: Ontario Court of Appeal Applies AbitibiBowater Test in Concurrent Decisions.

As we predicted when it was filed, Judge Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan denied today several creditors’ motion to appoint an independent commission to appraise the collection of the Detroit Institute of Arts (owned by the city of Detroit) as part of the city’s ongoing bankruptcy. 

Detroit Emergency Manager Kevyn Orr’s plan to monetize the collection of the Detroit Institute of Arts, whether by sale or otherwise, took a large step towards realization today when at least nine local and national foundations pledged up to $330 million to Detroit to keep the collection of the Detroit Institute of Arts safe from sale, loan, or other encumbrance, and also to shore up pension funds  Following 

Following on yesterday’s release of the full report and recommendations by Christie’s with regard to the collection of the Detroit Institute of Arts, the Bankruptcy Court has set a hearing on the 

After Judge Rhodes of the Bankruptcy Court for the Eastern District of Michigan ruled on December 3, 2013 that the city of Detroit is eligible for Chapter 9 Bankruptcy protection, the city immediately 

Chapter 11
and CCAA
» A Cross-Border Comparison

The Hon. Steven W. Rhodes of the U.S.