Dewey Bankruptcy Judge Approves $19.5M Settlement

Law360, Los Angeles (May 30, 2013, 10:04 PM ET) -- A New York bankruptcy judge on Thursday approved a $19.5 million settlement between Dewey & LeBoeuf LLP’s liquidation trust, the firm’s former chairman and its primary insurer, two weeks after he first declined to rule on the proposal.

Dewey's embattled ex-chairman Steven H. Davis agreed in April to pay $500,000 to settle mismanagement claims arising from the firm's downfall, while his professional liability insurer XL Specialty Insurance Co. agreed to cough up the $19 million.

The decision comes just after U.S. Bankruptcy Judge Martin Glenn declined...
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