Judge OKs Davis Settlement in Dewey Bankruptcy

, The Am Law Daily


Just over a year after Dewey & LeBoeuf capped the largest firm failure in history by filing for Chapter 11 protection, a U.S. bankruptcy judge in Manhattan has approved a $19.5 million settlement of mismanagement claims between Dewey's liquidating trustee, former chairman Steven Davis, and the firm's professional liability insurer. The settlement's approval comes as some former Dewey partners have begun making their way back onto the lateral market.

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