Home

Dewey Sues to Reclaim $5.7 Million Spent When they were Already Insolvent
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

How much work does it take to bring a law firm into bankruptcy? In the case of Law Firm Giant Dewey, seeking Chapter 11 is a full time job, with the firm seeing as much work as some small firms could only hope for. Their most recent move is seeking a return of $5.7 million paid to the Bank of America for several law firms, that Dewey paid out when they were already insolvent. Such funds are expected to go back to the pool that is being fed to their creditors, and they are expected to recover 5 to 14 cents per dollar of debt, with secured creditors receiving between 47 and 77 cents on the dollar.

Among the moneys they hope to see returned include $268,707 paid to Shook Hardy & Bacon in March 2012, $297,016 paid to Cook Vetter Doerhoff & Landwehr, $30,523 paid to Allen & Overy, and a host of others.

  
What
Where


The preference actions aim to show that Dewey did not give favorable treatment to particular vendors before going under – the way, say, in the game of Monopoly a person about to lose might cut sweet deals with the player he prefers to win. As Am Law Daily reports, Minnesota lawyer Joseph Steinfeld filed these suits Friday on behalf of liquidation trustee Alan Jacobs, and it is only the “first wave of such litigation.”

The endless litigation to tie up loose ends has all the drag of a badly written novel, which resorts to a 300 page appendix to make it all wrap up. In this, the suit against the Bank of America is the biggest target for Dewey, with a sum of $3.9 million sought. The wrap up drags on, and is full time business for a few lawyers, whose legal finesse has all the propriety and sanctimoniousness of an undertaker. Making it all look good before it finally dies requires exacting work.

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!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Estate Planning Attorney with 6+ years of experience

USA-CA-Los Angeles

Los Angeles office is seeking an experienced estate planning attorney with 6+ years of experience. C...

Apply Now

Litigation Attorney with 2-6 years of experience

USA-OR-Portland

Portland office is seeking a litigation attorney with 2-6 years of experience.

Apply Now

Employment Attorney with 10-20 years of experience

USA-CA-Ontario

Ontario company is seeking a senior labor counsel with 10-20 years of experience. Candidate must hav...

Apply Now

Patent Litigation Attorney with 3-5 years of computer science experience

USA-IL-Chicago

Chicago office of our client seeks patent litigation attorney with 3-5 years of experience. The cand...

Apply Now

RELEVANT JOBS

Attorney

USA-CA-San Francisco

As an in-house legal counsel at Wix’s legal department, you will play a significant role in de...

Apply now

Attorney

USA-MO-Kansas City

Successful, expanding KC personal injury law firm seeks an attorney with 5+ years personal injury li...

Apply now

Attorney

USA-MD-Greenbelt

CRIMINAL LAW ATTORNEY - Houlon, Berman, Finci, Levenstein & Sandler, LLC, an established AV rat...

Apply now

Attorney

USA-MD-Greenbelt

FAMILY LAW ATTORNEY - Houlon, Berman, Finci, Levenstein & Sandler, LLC, an established AV rated...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top