Dewey & LeBoeuf estate extends deadline for clawback settlement

The clawback settlement offered to former partners of the now-defunct law firm Dewey & LeBoeuf has been extended by another 48 hours, giving the concerned lawyers extra time to decide whether they will take part in a $90.4 million settlement that would release them from future liability to the firm. Former partners have been asked to contribute to the sum in order to account for client fees that they took with them to their new firms. If the deal is agreed Dewey’s estate will be able to pay creditors quickly compared to past law firm failures. The minimum threshold for the deal is $50 million, but it i unclear at this stage how many partners have signed on.

Dewey & LeBoeuf estate extends deadline for clawback settlement blogs.wsj.com Thu, Aug 16, 2012