The attorneys and financial consultants who represented Detroit's two pension funds during the city's bankruptcy will have their fees subjected to the same scrutiny as other highly paid professionals, the Detroit News reported on Friday. Bankruptcy Judge Steven Rhodes ruled on Wednesday that the Police and Fire Retirement System and General Retirement System should be subjected to the court's review of costs associated with litigating the largest bankruptcy in U.S. history. Robert Gordon, an attorney for the pension funds, argued in court on Monday that they should not be subject to fee examiner Robert Fishman’s ongoing reviews because Detroit taxpayers are not directly footing their legal bills. Judge Rhodes disagreed, while acknowledging there's no legal precedent for having a creditor's legal fees subject to court review in a chapter 9 municipal bankruptcy.
