Judge OKs $178M in Detroit bankruptcy professional fees; Jones Day gets $58M
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A federal bankruptcy judge on Thursday approved $178 million in professional fees for Detroit’s record-breaking Chapter 9 case, including $58 million to Jones Day.
The award to Jones Day for what Judge Steven Rhodes described as a “singular and extraordinary contribution” followed a $17.7 million reduction by the law firm in its billing, according to the Detroit Free Press and the Detroit News.
ABAJournal.com: “Jones Day bill for Detroit bankruptcy has topped $26M”
ABAJournal.com: “Federal judge OKs Detroit bankruptcy, says city can cut pensions for retirees”
Detroit Free Press: “Jones Day cuts $17.7 million from Detroit legal bills”