Detroit pays more than $47,000 to monitor bankruptcy spending

Oct. 1, 2013 at 5:00 PM
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DETROIT, Oct. 1 (UPI) -- The team appointed to monitor Detroit's spending on attorneys and consultants during bankruptcy proceedings charged $47,897.35 for the first month of services.

Robert Fishman, who was appointed by U.S. Bankruptcy Judge Steven Rhodes to monitor the legal and consulting fees incurred by the city during its Chapter 9 bankruptcy, charged $28,407.85 for the month of August at an hourly rate of $600, the Detroit Free Press reported Tuesday.

Fishman's legal advisers submitted invoices for a total $14,028.70, while his financial advisers charged $5,460.80.

Detroit previously agreed to pay the fees for monitoring the city's legal spending.

The city has awarded more than $62 million in contracts for consultants and attorneys charged with helping guide the city through its bankruptcy and restructuring.

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