Reuters: U.S.: Detroit refuses contract for law firm to overhaul city finances

Reuters: U.S. Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Detroit refuses contract for law firm to overhaul city finances Nov 20th 2012, 20:33 DETROIT | Tue Nov 20, 2012 3:33pm EST DETROIT (Reuters) - The City Council of Detroit on Tuesday rejected a contract to hire a law firm to help carry out an overhaul of the beleaguered city's finances. In a voice vote, the council rejected the contract for Miller, Canfield, Paddock & Stone to provide legal advice and to handle litigation pertaining to implementation of the financial stability agreement. In a deal last week between Michigan state officials and Detroit Mayor Dave Bing, the contract was stated as one of the conditions for the release of $10 million in state funds to help the city's budget. Detroit risks running out of money by the end of the year.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions