Lavish Dewey Payouts May Turn Creditors Against $90M Deal

Law360, New York (August 1, 2012, 9:33 PM EDT) -- Revelations that Dewey & LeBoeuf LLP paid out millions to select partners in the months before its collapse may raise the ire of creditors and force the firm to ask partners for far more than the $90 million that has been proposed to resolve potential clawback litigation, experts say.

Dewey attorney Albert Togut’s bid to wrap up clawback claims early in the case was a "brilliant, inspired and a creative move, said Edwin Reeser, a law firm consultant and former managing partner of Sonnenschein Nath &...
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