Former Dewey & LeBoeuf partners have so far agreed to pay more than $70 million as part of a proposed settlement, far exceeding the $50 million that advisers to the bankrupt firm’s estate have said they required to seek court and creditor approval for the plan and repay a portion of Dewey’s substantial debts.
The settlement, which comes less than three months after the firm declared bankruptcy, is designed to help repay creditors owed some $250 million in secured debt and at least $300 million more in unsecured claims.
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