Mark Zauderer, a partner from the law firm of Flemming Zulack Williamson Zauderer, has confirmed that he has been retained by a group of at least 50 former lawyers from Dewey & LeBoeuf as their former firm considers filing for bankruptcy. The former partners are using representation to defend against possible clawback attempts by the firm should it ask for money from those former partners. The former partners are also looking for representation in order to file claims of possible compensation that they are owed.
In a 1988 bankruptcy filing by Finley, Kumble, Wagner, Heine, Underberg, Manley, Myerson & Casey; Zauderer represented a senior partner from the firm against a clawback claim from the firm. Zauderer has represented law firms regarding partnership disputes and has worked as special litigation counsel in bankruptcy courts. It was confirmed by Zauderer that he is going to work with Andrew Eckstein, a restructuring parent from Blank Rome in New York. Eckstein worked with Citibank when it dissolved Thelen and Thacher Proffitt & Wood. He also worked with the bank when it dissolved Howrey. Also representing a group of former partners is that of Tracy Klestadt, from Klestadt & Winters.
It was reported by The Wall Street Journal on May 18 that Dewey could be preparing to file for bankruptcy in the coming weeks. A senior managing director from Zolfo Cooper, Joff Mitchell, confirmed that he is the firm’s chief restructuring officer.