• Home
  • News
  • Judge OKs $19.5M settlement over claimed Dewey mismanagement

Bankruptcy Law

Judge OKs $19.5M settlement over claimed Dewey mismanagement

Posted May 31, 2013 11:45 AM CDT
By Martha Neil

  • Print
  • Reprints
  • Share

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"


Add a Comment

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