Dewey extends deadline on clawback settlement, signals further revisions

Partners will now have until Aug. 13 to pay up and be protected from future lawsuits

The long slow slog that is Dewey & LeBoeuf’s bankruptcy will continue for a little while longer, as the firm has once again pushed back the deadline to reach a clawback settlement with former partners.

Dewey had already extended the deadline from July 26 to Aug. 7 to revise the settlement, under which partners would pay between $5,000 and $3.3 million to be released from future lawsuits brought by creditors or other ex-employees. In an email to partners Monday, the firm said that it will make “some enhancements” to the current proposal and circulate an updated version soon. Partners now have until Aug. 13 to sign on to the deal, which could earn the firm up to $90.4 million.

Alanna Byrne

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