Analyzing Dewey’s latest operating report

The firm’s estate reported nearly $40 million in client bills collected, and expenditures of nearly $70 million

In the nearly three months since Dewey & LeBoeuf’s bankruptcy filing, the firm’s estate has attempted to repay its debts by collecting outstanding bills and fighting tooth and nail to reach a clawback settlement with former partners. And the net result of all that that work? Just shy of $40 million, according to rough calculations by the Wall Street Journal.

According to Dewey’s latest operating report, it has collected $39.9 million in outstanding client bills through July. A recently reached clawback settlement, in which ex-partners will pay between $5,000 and $3.3 million each to avoid future Dewey-related lawsuits, netted another $70 million. The combined earnings will help to pay down Dewey’s debts, which reportedly total at least $315 million.

Alanna Byrne

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