In a slew of motions filed late on Aug. 29, the advisers steering Dewey & LeBoeuf through bankruptcy launched an aggressive campaign to keep control of the case and to win court approval of a proposed settlement with former partners designed to repay the defunct law firm’s creditors a sizable chunk of the hundreds of millions of dollars they are owed.
The Dewey team lays out how far it believes the case has progressed since the firm filed for Chapter 11 protection on May 28and how far it still has to go. In part, the advisers rely on what has become their mantra throughout the proceedings: that Dewey, the largest law firm ever to fail, will also be the quickest to clean up.
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