In April, Jones Day overcame fierce opposition to become Detroit's restructuring counsel under a $3.35 million, six-month contract. It took the firm half that time to burn through the money it was allocated. Public filings show Jones Day billed $3.7 million between mid-March and the end of June, even after writing off a considerable amount of attorney time.
Jones Day Surpasses Cap on Detroit Contract
The Am Law Daily
September 18, 2013