Detroit Bankruptcy Fees Top $150 Million
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Hans Nyberg/iStock/Thinkstock(DETROIT) -– The total cost of the Motor City’s history bankruptcy has finally been tabulated.
According to a filing on Tuesday with the bankruptcy court, Detroit is paying $164 million out of the city’s general fund, ABC News affiliate WXYZ-TV reports.
The Plan of Adjustment had budgeted an amount of $177 million to pay for the bankruptcy.
Detroit Mayor Mike Duggan says he will use the money saved to improve various city services, according to WXYZ-TV.
The fees still have to be approved by bankruptcy judge Steven Rhodes.
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