Sedgwick Floats New Bankruptcy Settlement With Ex-Partners

Law360 (November 8, 2019, 9:50 PM EST) -- Defunct firm Sedgwick LLP is inching closer to wrapping up its Chapter 11 bankruptcy proceeding, with the firm and creditors filing a joint liquidation plan Thursday that would also conclude its efforts to claw back funds from 47 former equity partners.

Under the plan, which also lays out procedures for a liquidating trust, 47 of the 66 former equity partners that allegedly owe the firm money would settle those claims by paying back a combined total of $1.9 million.

The committee of unsecured creditors will be in charge of pursuing any further claims against the 19 non-settling former partners named by...

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