The leadership team overseeing the bankrupt remnants of Dewey & LeBoeuf laid out a proposed settlement plan to former firm partners Wednesday under which those partners are being asked to pay the Chapter 11 estate between $25,000 and $3 million each for a combined total of $103.6 million.
In presenting the so-called partner contribution plan to the roughly 150 people packed into a Midtown Manhattan hotel conference room, Dewey leaders urged those assembled former partners and lawyers representing former partners, with some participating by phone to either agree to the settlement terms by July 24 or face the threat of litigation seeking even larger sums if a trustee takes command of the bankruptcy.
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