In what could be the first in a series of suits against former Dewey & LeBoeuf partners, the liquidation trustee overseeing the bankrupt Dewey estate sued William Marcoux late last week in an effort to recover $4.2 million in compensation and other benefits he received after the firm had allegedly become insolvent. Marcoux is one of several dozen former Dewey partners who opted not to join a $70 million settlement finalized by the defunct firm’s estate a year ago that would have insulated him against such litigation.
Trustee Alan Jacobs, who took on the role of liquidating the firm’s assets in March, said in the complaint that he is seeking the return of $3.6 million in partner distributions made to Marcoux between Jan. 1, 2009—when he says the firm was already insolvent—and Feb. 2012, when he left the firm to join DLA Piper, as well as $128,000 in unpaid capital contributions and $816,000 in tax payments Dewey made on Marcoux’s behalf.
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