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Price Tag for Detroits Bankruptcy Law Firm Hits 26 Million

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The law firm shepherding Detroit through the biggest-ever municipal bankruptcy has charged the city just over $26 million, according to a report yesterday from a court-appointed fee examiner, Reuters reported. The supplemental report adds $3 million in fees and nearly $83,000 in expenses billed in March by Jones Day, the former law firm of Detroit's state-appointed emergency manager, Kevyn Orr. Those amounts were not included in the January-March quarterly report fee examiner Robert Fishman submitted to U.S. Bankruptcy Court on Aug. 5. The addition of the March numbers brings Jones Day's total billing from July 2013 to March 2014 to $25.1 million in fees and $1 million in expenses. It also brings the total price tag for all of Detroit's professional services in the historic case and reported so far by the fee examiner to about $55 million.