Jones Day builds on Detroit bankruptcy success

May, 15 2014

Jones Day, the firm advising the city of Detroit on its bankruptcy, has also been called in to help in a similar bankruptcy case in California.

Sean Patrick Doran

The new case relates to the city of Stockton, near San Francisco, which filed for bankruptcy in 2012. As with Detroit, one of the biggest issues is the way the municipality will meet its obligations to retired workers. Former Jones Day partner Kevyn Orr has become the mayor of Detroit. Source: Bloomberg