Posted Jun 04, 2012 11:58 am CDT
Dewey & LeBoeuf’s chief restructuring officer says he is investigating potential claims against former partners and the firms that hired them.
But the estate has not considered possible claims against Dewey’s former leadership, according to Joff Mitchell, senior managing director at restructuring firm Zolfo Cooper. Mitchell talked to the Wall Street Journal (sub. req.) about plans to recover money for Dewey creditors.
Mitchell says the firm has an estimated $255 million in outstanding legal bills, and firms that take on Dewey partners and collect payments for unfinished business may be targeted. “To the extent that we the estate have claims, we would like to settle those claims sooner rather than later,” Mitchell told the Wall Street Journal. “So yes, we will pursue them, we will engage quickly with the successor firms with a view to settling those.”
Dewey has also hired a consultant to evaluate potential clawback claims against ex-partners who were paid after the firm became insolvent, the story says.