03/29/2013 09:56 am ET

Law Firm's Role In Detroit's Financial Recovery Questioned

Detroit — Global law firm Jones Day could have a crucial — and perhaps lucrative — role in the fight to save Detroit from insolvency, prompting concerns about possible conflicts in the emotional debate about the city's restructuring.

Jones Day was retained by the city to serve as its restructuring attorney three days before one of its partners, Kevyn Orr, was appointed emergency manager by Gov. Rick Snyder. The firm is expected to work closely with Orr to renegotiate Detroit's nearly $15 billion in long-term debt.

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