$71.5 Million Dewey Settlement Plan Now in Judge's Hands

, The Am Law Daily

   | 1 Comments

With an all-day hearing Friday ending inconclusively, U.S. bankruptcy court judge Martin Glenn will now weigh whether to approve the Dewey & LeBoeuf estate's proposed settlement with former partners against objections that the plan does not maximize potential recoveries for the firm's creditors and favors former partners with ties to the estate's advisers.

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What's being said

  • LulaineRDLegalFunding

    I don't think this is going to be a tough problem to resolve. The basics are the partners had no choice and had to settle or face a rash of lawsuits that would have certainly damaged them and their reputations. They were negligent in their duties and when the firmed tanked they expected bonuses. This was not going to go over well in court, so now the judge is going to determine if this is the best outcome for the creditors owed money.

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