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Detroit Bankruptcy Racks Up Over $160MM of Bankruptcy Fees, Expenses

Date: Dec 31, 2014 @ 08:01 AM
Filed Under: Bankruptcy

According to a filing with the  U.S. Bankruptcy Court Eastern District of Michigan Southern Division, Detroit is paying $164 million out of the general fund in relation to its bankruptcy filing.

According to the filing, the largest sum of money to be paid out is $57 million to Jones Day, attorneys for the city.

Consultant firms, Miller Buckfire, and Ernst and Young will receive $22 million and $20 million respectively.

The fees still have to be approved my bankruptcy judge Steven Rhodes.

To read the filing, click here.

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