UPDATE: 6/2/13, 10:17 p.m. EDT. The sixth paragraph of this story has been revised to include comment from the attorney representing former Dewey & LeBoeuf executives Joel Sanders and Stephen DiCarmine.
Just over a year after Dewey & LeBoeuf capped the largest law firm failure in U.S. 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.
