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and opposition during a sweeping mid August bankruptcy trial come at a steep price, with investment banking firm Miller Buckfire expected to charge $28 million for helping the city restructure, the documents show. Bankruptcy Judge Steven Rhodes approves Detroit emergency manager Kevyn Orr's plan of adjustment.

"As the City's financial restructuring adviser, Mr. Buckfire's affidavit speaks for itself," Orr spokesman Bill Nowling said in an e mail. "His analysis correctly explains the financial situation facing Detroit and how the City's Plan of Adjustment is Adidas Climacool 1 Flex

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MAY: Detroit forcefully defends bankruptcy plan in filing

Miller Buckfire is responsible for negotiating a potential water department spinoff a potentially lucrative deal for the city and is directing high stakes bond settlements with financial creditors.

Miller Buckfire will collect the full fee "upon a successful recapitalization or restructuring" of the city's debts, bank President Ken Buckfire said in an "expert report" prepared privately in advance of court hearings and acquired by the Free Press. The more than $2 million already paid to Miller Buckfire through December and the firm's $300,000 per month advisory fee will be credited toward the city's final bill.

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Bankruptcy Judge Steven Rhodes approves Detroit emergency manager Kevyn Orr plan of adjustment.(Photo: Romain Blanquart, Detroit Free Press)

The firm is also pursuing $300 million in fresh loans known as "exit financing" that would help Detroit execute its restructuring plan, according to the documents.

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D Rose Shoes 1

JUNE: Detroit reaches more bankruptcy deals with creditors

7B in debt during bankruptcy

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D Rose Shoes 1

But the debt cutting goals which will still face extensive scrutiny Adidas Boost Basketball Shoes

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not only fair, but is absolutely essential for the future viability of the City and the improvement of basic services for its nearly 700,000 residents."

The documents show how Detroit's bankruptcy fees are piling up as the case tarries and reveal how costly a municipal bankruptcy can be despite the significant benefits to residents in improved services.

city to escape 74% of its unsecured liabilities and reinvest heavily in services, according to internal city documents obtained by the Detroit Free Press.

When the city was negotiating with creditors before it filed for bankruptcy, Orr offered unsecured creditors pennies on the dollar, but that offer was viewed as a negotiating tactic designed to force creditors into accepting settlements.

DETROIT The City of Detroit expects to shed about $7 billion in debt in Chapter 9 bankruptcy, allowing the D Rose Brenda

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By reducing its debts dramatically, Detroit will have about $1.4 billion in extra cash to D Rose Shoes 1 reinvest in city services over 10 years, including improved public protection and blight removal.

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