The $71.5m (£45m) settlement between Dewey & LeBoeuf’s former partners and the defunct firm’s estate has been approved by the bankruptcy judge overseeing the case, less than five months after the US firm’s high-profile collapse.
Around 450 of 670 former Dewey partners have so far opted to participate in the settlement, which requires partners to pay portions of their earnings from 2011 and 2012 in exchange for a waiver from future liability over the firm’s debts, with individual payments ranging from $5,000 (£3,100) to $3.37m (£2.1m).
