Revised Dewey Partner Contribution Plan Would Take Bigger Bite from Former Firm Leaders

, The Am Law Daily


Responding to complaints that those who might have prevented Dewey & LeBoeuf's collapse weren't being asked to pay their fair share, the advisers guiding the defunct law firm through bankruptcy on Thursday unveiled a retooled settlement plan aimed in large part at addressing that issue.

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What's being said

  • Lulaine

    The leaders are going to have to take this deal. The more they look uncooperative the less people are going to be willing to hold back the lawsuit dogs of war. The deal is the only thing keeping the firm's partners from being buried in litigation by creditors over their unpaid bills.

  • Michael

    As I recall, Dewey distributed compensation (I do not call it profits because they were actually incurring further debt to fund their distributions) based on a "barbell" model -- superstars at the top, everyone else at the bottom. Let them distribute liability in like fashion.

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