AmLaw Daily has a detailed story about how Jones Day was selected (barely) over thirteen competitors -- including Michigan-based law firms Miller Canfield, Dykema Gossett, Lewis Munday, Butzel Long, Plunkett Cooney, and Jaffe Raitt -- to handle Detroit's restructuring. From the story:
Fourteen firms responded with proposals that Miller Buckfire rated in such categories as each firm's ties to Detroit and Michigan; its experience with large debtor-side bankruptcies, Chapter 9 municipal bankruptcies, and public finance work; and the potential for conflicts to arise if it took on the assignment. Guided by that matrix, and without conducting additional interviews, the city selected Jones Day on March 8, just two days after the deadline for submitting bids had passed. The firm, which received 21 out of 24 possible points on the Miller Buckfire matrix, signed a $3.35 million contract with the city on March 20 that runs at least through the end of September.
