Dewey & LeBoeuf’s liquidation plan has been approved by the bankruptcy court judge overseeing the case, paving the way for repayment of millions of dollars owed to creditors of the collapsed firm.

Judge Martin Glenn yesterday (27 Febraury) approved the plan, which will see secured creditors – which are collectively owed $262m (£173m) – receive between 47 to 77 cents on the dollar, while general unsecured creditors are expected to receive between 5 and 14 cents per dollar claimed.