Home

Dewey Retirees Settle with Dewey Estate
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

On Thursday, a group of Dewey retirees agreed to settle claims with Dewey according to settlement papers filed in the New York federal bankruptcy court. According to the settlement, the retirees are ready to pay the Dewey estate $5000 or 25 percent of payments received from Dewey during 2011-12, whichever is lower.

In addition, the retirees would reimburse Dewey 60 percent of any tax advances made by Dewey during the same periods. In exchange, the Dewey estate would provide a release of claims to those who settle.

The settlement was filed by Al Togut for the Dewey estate and covers 125 Dewey retirees. According to sources more than half of the retirees have already signed the agreement while the rest still have to sign it.

  
What
Where


Earlier, the retirees had opposed the settlement taking issue with the fact that the settlement had been drafted by consultants biased towards the Dewey administration and had asked Judge Glenn to appoint an independent examiner to determine the fairness of the proposal.

When in October, Judge Glenn had approved the $71.5 million settlement with more than 400 former partners, the retirees had objected claiming the deal was unfair and favored high-earners of the firm, who were responsible for the law firm’s collapse.

Until the recent developments, the retirees had been known to continue to object to the settlement with the Dewey estate claiming that Dewey owed them retirement payments and compensation that had not been paid, and that they should be treated as creditors.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Though the reasons for the retirees agreeing to the settlement is yet unknown, the retirees have also agreed to allow the Dewey estate to take over their claims against former colleagues including former Chairman Steven Davis, former executive director Stephen DiCarmine and chief financial officer Joel Sanders.

If the settlement were approved by the court, then the Chapter 11 bankruptcy of Dewey & LeBoeuf would move closer towards completion.





 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Business Litigation Attorney

USA-CA-Santa Monica

Santa Monica office of our client seeks business litigation attorney with 1-3 years of experience. T...

Apply Now

Intellectual Property Litigation / Enforcement Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks intellectual property litigation / enforcement associate at...

Apply Now

Corporate Attorney

USA-CA-Menlo Park

Menlo Park office of sophisticated boutique firm is seeking a corporate attorney with experience in ...

Apply Now

Mid-level Computer Science Patent Attorney

USA-CA-San Francisco

San Francisco office of our client seeks mid-level patent attorney with 3-5 years of intellectual pr...

Apply Now

RELEVANT JOBS

Search Docket Administrator

USA-IL-Evanston

Cardinal Intellectual Property is seeking an administrator to help perform a variety of tasks within...

Apply now

Associate - Mid-Level - GL Group

USA-NY-Valhalla

Defense firm seeking mid-level associate for Westchester office to fill General Liability position. ...

Apply now

Hotline & Training Managing Attorney (IMMIGRATION)

USA-NY-New York City

The Hotline & Training Services Managing Attorney will guide, develop, and supervise the Hotline sta...

Apply now

Litigation paralegal

USA-TX-Dallas

We are looking to immediately hire a responsible, highly organized, self-motivated litigation parale...

Apply now

SEARCH IN ARCHIVE

To Top