One of the companies challenging Detroit's bankruptcy plan says the possible value of the Detroit Institute of Arts' collection is $8.5 billion — a figure that's higher than previous estimates.
The company also says the city owns or controls as much as $1.2 billion in real estate, including vacant property and homes that could be foreclosed upon.
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The Detroit News and Detroit Free Press report an art consultant for Financial Guaranty Insurance estimated the DIA collection is worth almost double a previous estimate.
New York-based Artvest Partners LLC said earlier this month that art eyed for sale by some creditors could be worth more than $4.6 billion, but likely would fetch a quarter of that or less in a forced liquidation.
A trial over Detroit's bankruptcy plan starts Aug. 14.