Michigan attorney general Bill Schuette last week issued a 22-page formal opinion arguing that the Detroit Institute of Art's prized collection is off limits to creditors or Detroit officials struggling to cover the city's debt, because it is held in a charitable trust.

Detroit emergency manager Kevyn Orr recently warned that the collection, valued at over $1 billion, could be seized by the city or its creditors to pay off debts. The city owns the museum.

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