Summary: Firm representing Detroit through its bankruptcy decides to open a Detroit office.
Jones Day attempted great feats of legislation in handling the nation’s largest bankruptcy case, when Detroit filed for Chapter 9 bankruptcy. In representing Detroit, they cut their bill by $17.7 million, collecting $53.7 million, meanwhile reducing Detroit’s $18 billion debt by $7 billion.
Many in Detroit asked the firm if they would open an office there, and they ultimately decided to do so.
“It’s a city that is very much Jones Day,” said attorney Timothy Melton, Jones Day’s partner-in-charge for the new Detroit office. “It is frankly quite similar in terms of workforce and work ethic as much of them Midwest and we’ve always been a law firm rooted in the Midwest.
“And given the terrific result in the bankruptcy case, I think the timing was right.” For the bankruptcy case “certainly raised the profile of the firm.”
He also added, “I will tell you that there a number of folks in the Detroit community that asked us to very seriously consider opening a Detroit office.”
That office is anticipated to arrive in July, with a staff of about 12. That will make it the firm’s 17th office in the country and its 42nd worldwide.
News Source: Freep
