Jones Day's Detroit Contract Capped At $18M

Law360, New York (October 4, 2013, 3:18 PM EDT) -- Detroit will pay up to $18 million to Jones Day for guiding the city through bankruptcy and restructuring, a sum that is more than five times greater than the contract previously inked between the city and the law firm.

Emergency Manager Kevyn Orr and the firm have capped legal fees related to the city's bankruptcy at $18 million, officials confirmed on Friday. The amount is a marked increase from the $3.35 million contract approved in April, which extended from March 15 to September 15, 2013, according...
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