Jones Day's Detroit Pact Now Capped at $18 Million

, The Am Law Daily


With the value of Jones Day's contract to serve as restructuring counsel in the largest municipal bankruptcy filing in U.S. history soaring more than 500 percent just before the city sought Chapter 9 protection, a Michigan lawmaker is pushing a bill aimed at reining in emergency managers like Kevyn Orr—the ex–Jones Day partner who approved the revised contract in his role as Detroit's state-appointed steward.

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