There may be—as the defunct law firm’s lead bankruptcy lawyer, Albert Togut, said at a hearing last week—”no future in working for Dewey & LeBoeuf,” but there will be bonuses for the handful of employees who stick around a little while longer to help wrap up its operations.
Overruling objections raised by the U.S. Trustee’s Office, Manhattan bankruptcy court Judge Martin Glenn issued an order Monday in which he mostly approved the Dewey estate’s plan to reward the firm’s remaining 48 employees with a total of up to $700,000 in bonuses if they continue to assist in the wind-down effort. The one element of the plan Glenn balked at involved a proposal to allocate up to $100,000 for a “discretionary fund” to be used to pay collection and operational staff.
