Federal court mediators said yesterday that law firms and consultants reached agreements with Detroit over fees that they charged the city for work on its historic bankruptcy, Reuters reported. The mediators said in a statement that the agreements, which were not disclosed, are subject to approval by Judge Steven Rhodes, who oversaw the city's bankruptcy, which ended on Wednesday. As of Oct. 24, fees and expenses totaled nearly $141 million, with law firm Jones Day submitting the biggest bill, totaling $52.3 million. The deals were reached "after intensive negotiating sessions over the past several weeks" involving representatives of the law firms and consultants, as well as the city's emergency manager, mayor, council and Michigan Governor Rick Snyder, the statement said.
