4/9/26

The Grand Bargain

2013. Detroit files for the largest municipal bankruptcy in U.S. history. The city was $18 billion in debt. Creditors wanted to be paid. And they had their eye on the Detroit Institute of Arts.
 
What followed was a race to save a world-class art collection, protect the pensions of thousands of retirees, and pull a great American city back from the edge.

At the center of it was Gene Gargaro, a former Dykema partner who spent two years doing what good lawyers do: negotiating under pressure, holding firm when it mattered, and finding a way through when there didn’t appear to be one.

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Driving Forward