Nearing Deadline, Dewey Advisers Say $90.4 Million Settlement Plan Has Hit Key Goal

, The Am Law Daily


Just over two hours ahead of a 5 p.m. deadline, the team steering Dewey & LeBoeuf through bankruptcy notified the defunct firm's former partners via email Thursday that enough of them had signed on to the so-called partner contribution plan to raise the $50 million required to bring the deal to creditors and the bankruptcy court for approval.

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What's being said

  • Lulaine

    This is the best deal these guys are going get because as partners they are in charge of the firms performance. Since the firm went bankrupt under their watch and they feel they are entitled to their golden parachute, a settlement where they only have to pay back the money is only fair. If this deal falls through, there is going to be a large lawsuit against the partners where if they lose it will cost even more than $90.4 million.

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