A group of retired Dewey & LeBoeuf partners whose objections threatened to drag out or even derail the defunct firm’s bankruptcy proceedings have reached a settlement that Dewey lawyers say should clear the way for the speedy approval of a pending Chapter 11 plan.
The settlement, detailed in Feb. 7 filings, has been offered to 125 retired Dewey partnersmost of them tied to legacy firm LeBoeuf, Lamb, Green & MacRaewho are being asked to repay the bankruptcy estate a portion of money they received from the firm in 2011 and 2012, including tax advances, payments from non-qualified retirement plans, and of counsel and special counsel compensation. (In cases involving retirees who have died, those partners’ beneficiaries are to make the payments.)
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