Dewey Execs Say $20M Settlement Leaves Firm Vulnerable

Law360, Los Angeles (May 2, 2013, 10:11 PM EDT) -- Two ex-Dewey & LeBoeuf LLP executives on Thursday objected to a proposed $19.5 million agreement settling existing mismanagement claims, arguing that it would leave the firm's primary insurer with nothing left to defend against possible future claims.

Under the terms of the settlement, Dewey insurer XL Specialty Insurance Co. would pay $19 million of the $19.5 million in its remaining coverage to end claims that arose against Stephen DiCarmine, Joel I. Sanders and other executives after the firm’s downfall. They say the $19 million figure is...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Dewey & LeBoeuf LLP


Case Number

1:12-bk-12321

Court

New York Southern

Nature of Suit

Date Filed

May 28, 2012

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.