According to The Detroit News, just days from the start of the city’s confirmation trial, Art Capital, a lender that accepts art as collateral, is offering to loan Detroit as much as $4 billion to be secured by the encyclopedic collection of the Detroit Institute of Arts (DIA).

The News said it’s a deal the city is neither seeking nor likely to seriously consider given the implications for pensioners, the DIA’s credibility and approval of the city’s restructuring plan.

The News notes that the bid is yet another attempt by creditors to scuttle the multiparty grand bargain designed to protect the DIA’s collection from creditors and funnel the equivalent of $816 million into city pension funds.

To view the full Detroit News report, click here.