Dewey Partners Scramble Over $50M Bar For Clawback Deal

Law360, New York (August 16, 2012, 4:41 PM EDT) -- Hours before a 5 p.m. deadline, more than 300 former partners of bankrupt Dewey & LeBoeuf LLP on Thursday agreed to pay more than $50 million of a proposed $90.4 million settlement deal that would shield attorneys from potential clawback litigation, meeting the threshold the firm said it needed to seek court approval.

Before 3 p.m. on Thursday, Dewey’s bankruptcy team reached the threshold needed to seek approval from the bankruptcy court for the proposed settlement agreement with partners, with more than 300 partners giving commitments...
To view the full article, register now.