Bankruptcy Law

Judge OKs $19.5M settlement over claimed Dewey mismanagement


A federal judge in New York has approved a settlement between the bankruptcy estate of Dewey & LeBoeuf, an insurer and its former chair over claimed mismanagement of the now-defunct law firm.

The insurer, XL Specialty Insurance Company, will pay the lion’s share of the $19.5 million settlement approved Thursday. Former chairman Steven Davis, who denies wrongdoing, has agreed to contribute $511,145, Reuters reports.

A $71 million settlement with some 400 former partners of the firm that was OK’d in October required them to pay between $5,000 and $3.5 million each.

See also

ABAJournal.com: “Former Dewey chairman may not have to pay entire $511K settlement; it depends on his income”

Am Law Daily: “Ex-Dewey Lawyer’s Move Adds Wrench to Firm’s Bankruptcy”

Am Law Daily: “Ex-Dewey Partners Face New Foe in Firm’s Bankruptcy”

Previous:
Rats are so plentiful at Mississippi prison that inmates put them on leashes, suit says

Next:
Will 'pedestrian scramble' make it safer to cross downtown Chicago intersection?


We welcome your comments, but please adhere to our comment policy. Flag comment for moderator.

Commenting is not available in this channel entry.