Bankruptcy Fees in Detroit

http://money.cnn.com/2014/02/05/news/economy/detroit-bankruptcy-fees/index.html?iid=SF_E_River

The devastation of bankruptcy is continuing to spiral the city of Detroit further down. On July 18th of last year, Detroit filed for bankruptcy, and the fees that entail said bankruptcy continue to pile on. About $13.3 million of fees have been reported. Another $400,000 more in expenses are expected to be paid as well. From an economic standpoint, Detroit is in shambles, however the city is doing its best to recover from the bankruptcy. Deals on such things as how to pay for retiree health care as well as keeping the city owned pieces of art on display in the museum have been made, showing signs of progress. Though progress is being shown, the city is behind $18 billion in liabilities as well as $11.5 billion in other unsecured debt. The main bill of nearly $14 billion came from Jones Day, a primary law firm. Detroit will continue with their progression, and will remain optimistic.