Citing widely held concerns voiced by former Dewey & LeBoeuf partners, the bankrupt law firm’s chief restructuring officer said in an email sent to partners on July 19 that the deadline for agreeing to a proposed $103.6 million settlement has been moved up two weeks and that revisions to the original plan will be announced this week.
The settlement, which in its present form asks former partners to pay between $25,000 and $3 million apiece in exchange for a waiver of future liability related to Dewey, was pitched July 11 by the firm’s wind down team as being in the best interest of partners and creditors (NYLJ, July 13).
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