James Doak

<[email protected]>, "Stibitz, Brom (Treasury)" <[email protected]>, "Or, Kevyn O* (GOY)" <[email protected]>, "Rustem, William (GOV)" <[email protected]> _ Subject: RE: Root Cause Committee Report Final Form 3/13 We would be happy to do so. Ttis our (MB) understanding that on Thursday, at and around the status conference, Judge Cox was asking all the parties in interest to clarify their position on the RCC report. The Judge may have also expressed his views on the RCC report, the process and associated required judicial authority. _MB was also informed last night and this morning by Jack Martin and Ed Keelean that the City is not inclined to pursue the RCC recommendation at this time, including any work to create a stipulated order for dismissal laying out the in the RCC ~ recommendation. Jam in the office today and happy to discuss further. We will get our summary off to Fred this afternoon, James Doak Managing Director MILLER BUCKFIRE | A STIFEL COMPANY Direct: 1.212.895.1829 | Fax: 41.212,895.1835 E-mail: james. doakiymillerbuckfire, com | www. millerbuokfire, com

Fred.and Jim, [need to brief the Governor on why Judge Cox wants the root cause report on the PWS case _ and why he wants to understand the Governor's position on this issue. Fred, if you could call the Judge's Special Master David Ottenwess and confirm that the judge is in fact looking for the Governor's position on this issue and why I would appreciate it. I don't believe there is a legal need for the G's sign off and if not we should advise the G of this. I do believe the DEQ is a party to the litigation and will ultimately have to sign off on the order which will dismiss the case and I believe include the recommendation of the root cause committee. Jim, if you could provide Fred with a summary of sige you signed off on the report we will , include that in our me to the G. ; Unless, there is some aspect to this ] don't punderstand, I think this should be a one-pager. Thanks, Andy Sent from my iPad On Mar 13, 2013, at 10:14 AM, "Doak, James"

’ Jack and Gary, As we just discussed, attached please find a revision of the Report, re-dating the document and removing a sentence in “Interim Relief”. . I have discussed the change with Matthew Schenk. He is okay with the change. As we discussed, this version is ready for execution. The MB team will be working on talking/briefing/Q&A points for you this morning and will start to coordinate aeaihi amie’ (who will also coordinate with the DWSD communications team). Thanks and we look forward to continued progress on this transaction and value-creation opportunity for the City of Detroit. : Jim xxxEND_PAGE:deq02_b005_1336_2058_426 James Doak Managing Director © Miller Buckfire | A Stifel Company Direct: +1.212.895.1829 | Fax: +1.212.895.1835 E-mail: | _ 601 Lexington Avenue, 22nd Floor | New York, NY 10022 Disclaimer: The information contained in this email message is inténded only for the use of the’ individual or entity named above. If the reader of this message is not the intended recipient, or - the employee or agent responsible to deliver it to the intended recipient, you are hereby notified . that any dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us and destroy the original message. Thank you <Final Root Cause Report 3-13-13.docx> xxxEND_PAGE:deq02_b005_1336_2058_427 Thelen, Mary Beth (DEQ) _