Dense Fog Advisory issued January 22 at 3:57AM EST expiring January 22 at 12:00PM EST in effect for: Genesee, Lapeer, Lenawee, Livingston, Macomb, Monroe, Oakland, Saint Clair, Shiawassee, Washtenaw, Wayne
(WXYZ) - Time is running out to try to save the masterpieces at the Detroit Institute of Arts.
Detroit's Emergency Manager plans to submit his plan of adjustment in Detroit's bankruptcy within three weeks and it either will or will not include the value of art.
Federal District Judge Gerald Rosen has been meeting privately with foundations to save the art and put forward at least $500 million toward bankruptcy.
Out of the blue, an individual donor came forward today, A. Paul Schaap, with a personal check of $5 million.
Schaap tells 7 Action News that he won't reveal Judge Rosen's plan, but it would protect Detroit's treasures as well as offer something for Detroit retirees facing reductions in their pensions and health care in bankruptcy.
Schaap says Judge Rosen's plan is capable, "he's a very smart guy."
7 Action News Investigator Jim Kiertzner has also been told by sources that retiree groups are negotiating pension reductions in closed mediation over which Judge Rosen is presiding.
At the same time, they are also appealing Detroit's bankruptcy eligibility.
Judge Rosen has declined to comment on his role behind the scenes.