Former Dewey Partners Given More Time to Mull Settlement

, The Am Law Daily


On the eve of the deadline for former Dewey partners to decide whether or not to participate in a $90.4 million settlement, the bankrupt firm's advisers told the partnership that they now have until August 13 to sign on. It is the second time the plan's deadline has been pushed back.

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What's being said

  • Attorney

    @Lulaine: You should review your understanding of the law. Dewey was a limited liability partnership. There is no way their personal assets are in jeopardy beyond clawbacks of distributions.

  • Lulaine

    These Dewey partners need to make a decision very quickly. They are in real hot water with the firm bankrupt on their watch, with creditors not paid, employees possibly not paid as well. Partners are responsible and they are given a pass to get off the hook. If they happen to refuse this, I see these partners personal assets in jeopardy through the lawsuits they will receive.

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