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Tuesday, August 26, 2014

Detroit Mum on Proposal To Use Its Art as Collateral by MARY WILLIAMS WALSH



By MARY WILLIAMS WALSH


A confidential report to the bankrupt city offers a loan of $500 million to $3 billion, collateralized by pieces in the Detroit Institute of Arts, at a rate of Libor plus 5.5 to 8.5 percentage points.


Published: August 26, 2014 at 4:00AM


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