Coudert Offers Deal To Ex-Partners In New Plan

Law360, New York (May 12, 2008, 12:00 AM EDT) -- Bankrupt law firm Coudert Brothers LLP has revealed a liquidation plan that would rely upon potentially liable former partners agreeing to contribute substantial funds in exchange for broad releases from future litigation.

Coudert, which entered Chapter 11 in September 2006, filed its first amended plan of liquidation and disclosure statement last Friday in the U.S. Bankruptcy Court for the Southern District of New York, promising up to 39% recovery for unsecured creditors.

A hearing on the motion for plan approval is scheduled for June 3....
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