Detroit is close to agreements with more creditors on a plan to reduce its $18 billion debt load, lawyers for the city told a judge who withheld a final ruling on whether to allow a vote on the proposal.
Goldman Sachs Group Inc., Rothschild and Zaoui & Co. are among banks that may split as much as $100 million in fees for their roles advising on the merger of Holcim Ltd. and Lafarge SA to create the world’s biggest cement maker.
The judge overseeing Detroit’s record $18 billion municipal bankruptcy asked one of the city’s lawyers for a description of its debt-reduction plan that public workers facing pension cuts can understand.
Patterson Belknap Webb & Tyler LLP’s employment law head, Lisa E. Cleary, was named co-chairwoman and managing partner of the firm. She succeeds Robert P. LoBue, who was co-chairman and managing partner, and joins William F. Cavanaugh Jr. as co-chairman.
Dentons, a 2,600-lawyer international firm formed a year ago through the combination of Salans LLP, Fraser Milner Casgrain LLP and SNR Denton, is interested in expanding further through a combination with Patton Boggs LLP.
Krzysztof Trylinski brought a five- year battle for control of Belvedere SA to an end in March 2013 with a deal that handed control of the French vodka-maker to bondholders. “The war is over,” the chairman said.