A group of retired Dewey & LeBoeuf partners whose objections threatened to drag out or even derail the defunct firm’s bankruptcy proceedings have reached a settlement that Dewey lawyers say should clear the way for the speedy approval of a pending Chapter 11 plan.
The settlement, detailed in Thursday court filings, has been offered to 125 retired Dewey partners—most of them tied to legacy firm LeBoeuf, Lamb, Green & MacRae—who are being asked to repay the bankruptcy estate a portion of the money they received from the firm in 2011 and 2012, including tax advances, payments from nonqualified retirement plans, and of counsel and special counsel compensation. (In cases involving retirees who have died, those partners’ beneficiaries are to make the payments.)
