Dewey retirees unhappy with proposed settlement

Former lawyers say the deal favors highly paid partners and shields firm leaders from lawsuits

It seems as though no one’s happy with Dewey & LeBoeuf these days: not creditors, not regulators and certainly not its former partners, who may be on the hook for the firm’s massive debts.

Last week, the firm proposed a settlement that would release former partners from claims by creditors, in exchange for payments of between $25,000 and $3 million. The defunct Dewey owes $315 million to creditors; the settlement, if accepted, would cover up to $103.6 million of that amount.

Alanna Byrne

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