Daily News: October 12, 2012

Court Approves Dewey Settlement With Partners, Estate

U.S. Bankruptcy Judge Martin Glenn has granted permission for a settlement between Dewey & LeBoeuf’s former partners and the law firm’s estate, valued at $71.5 million, a Reuters’ article reported.

In the settlement, the partners will pay a portion of their compensation. These payments can range from as little as $5,000 and as much as $3.5 million, the article said. The settlement will allow the partners to be exempt from any potential lawsuits regarding Dewey’s debt.

Approximately 400 partners agreed to the settlement, the article said.

To read the Reuter’s article, click here.

Previously on abfjournal.com:

Dewey Partners Named in $71.5MM Step Toward Recovery, Monday, September 24, 2012