DETROIT (WKZO) -- A bankruptcy filing could cost Detroit more than 100-million dollars in legal fees. So far the law firm Jones Day has accrued 1.4-million dollars in fees in its efforts to help the city restructure.
Chrysler paid Jones Day more than 43-million dollars to handle its 2009 Chapter 11 filing. General Motors paid another firm 72-million to handle its bankruptcy. If Detroit does file for bankruptcy it would reportedly be the largest municipal bankruptcy in the nation's history.