Thursday, May 19, 2022
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HomebankruptcyDonors put up $330 million for Detroit pensions, art

Donors put up $330 million for Detroit pensions, art

National and local foundations have committed more than $330 million toward Detroit's pensions to stave off the possible sale of city-owned pieces in an art museum.

Mediators in Detroit's bankruptcy proceeding say in a statement Monday that other foundations are expected to announce their participation in the plan.

Nearly 130 individuals also have contributed to a fund established with a Detroit-area community foundation.

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