Dewey Bankruptcy Judge Approves $19.5M Settlement

Law360, Los Angeles (May 30, 2013, 10:04 PM EDT) -- 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...
To view the full article, register now.




Case Information

Case Title

Dewey & LeBoeuf LLP

Case Number



New York Southern

Nature of Suit

Date Filed

May 28, 2012

Law Firms

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.